User Account

All Pages

Adjusting entry for accrued-unpaid employee salaries

Assignment Help Financial Accounting
Reference no: EM13864852

The correct adjusting entry for accrued and unpaid employee salaries of $8,000 on December 31 is.

Debit Salaries Payable, $8,000; credit Salary Expense $8,000.

Debit Salary Expense, $8,000; credit Salaries Payable, $8,000.

Debit Salary Expense, $8,000; credit Cash, $8,000.

Debit Salary Expense, 8,000; credit Prepaid Salary, 8,000.

Debit Salary Expense, $8,000; credit Fees Earned, $8,000.

Reference no: EM13864852

Questions Cloud

How to install single-phase electrical wiring : How to install Single-Phase Electrical Wiring in a Multi-Story Building ? (Requirements,General Precaution and step by step explanation) .
Insurance expense on the annual income statement : On July 1, a company paid the $3,480 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the current year ended December 31?
Prepaid insurance account : On January 1 a company purchased a five-year insurance policy for $2,300 with coverage starting immediately. If the purchase was recorded in the Prepaid Insurance account, and the company records adjustments only at year-end, the adjusting entry at t..
What is the amount of insurance expense : On May 1, a two-year insurance policy was purchased for $50,400 with coverage to begin immediately. What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31?
Adjusting entry for accrued-unpaid employee salaries : The correct adjusting entry for accrued and unpaid employee salaries of $8,000 on December 31
Adjusting entry for accrued and unpaid employee salaries : The correct adjusting entry for accrued and unpaid employee salaries of $8,000 on December 31 is.
How to analyze electric circuit : How to Analyze Electric Circuit through Norton's Theorem ? ( Need an easy step by step procedure with examples )
What is the amount of liabilities : A company's balance sheet shows: cash $39,000, accounts receivable $45,000, equipment $80,000, and equity $87,000. What is the amount of liabilities?
What is the weighted average contribution margin per unit : Cobb Corporation produces three products, A, B and C. The normal volume is 900 units of A, 120 units of B and 180 units of C. The price per unit is $5, $7, $10, for products A, B, and C, respectively. The variable cost per unit is $2, $3, $4, for pro..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare an amortization table through first two periods

Prepare an amortization table through the first two interest periods using the effective-interest method and prepare journal entries to record bond-related transactions as of the folowing dates January 1,2014, July 1 2014, Dec 31,2014

  Provided consulting services

On December 31, 2013 Barker Inc. provided consulting services to Carr Company at an agreed price of $141,513. Barker accepted $30,000 down and agreed to accept the balance in four equal installments of $30,000 to be received quarterly (March 31, 2014..

  Recorded in connection with these intra-entity bonds

Fargus Corporation owned 51% of the voting common stock of Sanatee, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or other allocation was recorded in connection with th..

  Preparation of the year-end financial statements

On December 20, 2008, an employee filed a legal action against Baylor for $100,000 for wrongful dismissal. Management believes the action to be frivolous and without merit. The likelihood of payment to the employee is remote.

  Journal entry to show the effect of salesunearned revenues

journal entry to show the effect of sales.unearned revenues - ticket sales. kirkland theatre sells seasons tickets for

  Identify control environment factors that affect company

You expanded your tests in view of the situationsand are satisfied that the perpertual records reasonably reflect the quantities on hand. Identify control environment factors that affect the company's internal control.

  Compute the direct materials price and quantity variances

These 5,000 puzzles used 50,000 diodes at an actual cost $0.28 per diode. All 50,000 diodes were used and there was no ending inventory. Compute the Direct materials price and quantity variances. Use the back of your answer sheet.

  Illustrate what accounting entry will they make on june

The original cost was $2,000. They were billed $2,100 as there was a price increase. Illustrate what accounting entry will they make on June 18?

  Why is money laundering considered a criminal activity

Why is money laundering considered a serious criminal activity if it only involves the transfer of money from one location to another? Are financial institutions the only organizations used to detect and combat money laundering activities? Name ano..

  Actual comparison with budget

Compute the expected ROI in 2013 with the following independent changes to actual data. Variable cost of goods sold is decreased by 6%. Average operating assets are decreased by 10%. Sales are increased by $200,000, and this increase is expected to i..

  How could each decision affect the companys cash flows

How could each decision affect the company's cash flows? Ethically, how could the purchase cost be allocated? Who will be affected by the decision?

  Fundamentals of accounting

Fundamentals of accounting assignment - Write up assets, capital and liability accounts in the books of D. Gough

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd