Monday, February 16, 2009

It's Accounting. No Holidays.

I'm taking Basic Principles of Accounting this semester, as part of my Finance minor, and it's killing my soul a little bit. I haven't felt this insanely out of my league since I took Statistics over the summer. This kind of prolonged inferiority is proving to be kind of bad for my self-esteem (I know you'd never be able to tell I was insecure if I wasn't constantly complaining about it, HA). Thank god I have someone to help me when I'm totally stumped! Here's a conversation where I learn about cold, hard, mathematical reality.

PortablePriya: original entry
PortablePriya: actually i think there's only an adjusted entry
PortablePriya: where i would debit salary expense and credit salary payable

Caroline: yup

PortablePriya: for the amount accrued for the week up till thursday

Caroline: tuesday

PortablePriya: oh yes
PortablePriya: okay
PortablePriya: so wouldn't it just be one day's pay? since dec.31 falls on a tuesday?

Caroline: 2 days

PortablePriya: they get paid on friday, saturday sunday they're off
PortablePriya: then monday they work
PortablePriya: tuesday they don't work

Caroline: tuesday they work

PortablePriya: oh okay, i thought they got a holiday, haha

Caroline: haha
Caroline: it's accounting
Caroline: no holidays

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