Able Ltd operates on a five-day working week.Employees are paid on Thursday for work completed to Wednesday.The weekly wages bill is $40 000.If 30 June 2012 fell on a Tuesday,what was the accrued wages payable on 30 June 2012?

Question

Quizplus · Accepted Answer

Accrued wages payable = Weekly wages bill x Number of days accrued / Number of days in a week= $40,000 x 2 / 5= $16,000 x 2= $32,000

Able Ltd Operates on a Five-Day Working Week