Brasilia company pays salaries of R$10,000 every Monday for the preceding 5-week (Monday through…
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Brasilia company pays salaries of R$10,000 every Monday for the preceding 5-week (Monday through Friday). Assume December 31 falls on a Tuesday, so Brasilia’s employees have worked 2 days without being paid.Instructions(a) Assume the company does not use reversing entries. Prepare the December 31 adjust entry and the entry on Monday, January 6, when Brasilia pays the payroll.(b) Assume the company does use reversing entries. Prepare the December 31 adjusting entry the January 1 reversing entry and the entry on Monday, January 6, when Brasilia pays payroll.View Solution:
Brasilia company pays salaries of R 10 000 every Monday for the
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