Assume that Nolensville’s fiscal year ends on December 31, answer the following questions:
1. Nolensville’s payroll for one of its departments is $15,000 per week. It pays its employees on Thursday of the week following that in which the wages and salaries are earned. In 2015 December 31 fell on a Thursday. For the work beginning Monday, December 28, 2015, and ending Friday, January 1, 2016, employees were paid on Thursday, January 7, 2016. For fiscal year 2015, what amount should the city recognize as wage and salary expenditure/expense pertaining to the week ending Friday, January 1, 2016, in its funds statements and it government-wide statements?
Funds Statements Government-Wide Statements
A. $0 $0
B. $9000 $ 9000
C. $0 $ 9000
D. $9000 $ 0
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