Employees earn $6,000 per day, work five days per week, Monday through Friday, and get paid every Friday.If the previous payday was January 26 and the accounting period ends on January 31, what amount is the ending balance in the wages payable account?

Question

Quizplus · Accepted Answer

The employees earn $6,000 per day and work five days a week. Since the last payday was January 26, they worked three days (January 29, 30, and 31) before the accounting period ended on January 31. Therefore, the wages payable for these three days is 3 days x $6,000/day = $18,000.

Employees Earn $6,000 Per Day, Work Five Days Per Week