Anthony Delivery Service has a weekly payroll of $32,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6 ) for the previous full week
Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $925,000. What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted?
A) $925,000
B) $957,000
C) $944,200
D) $937,800
D .Salaries Expense: $925,000 + ($32,000 / 5 x 2 days ) = $937,800
You might also like to view...
Which of the following scaled-response formats is good for measuring store, company or brand images?
A) constant sum scale B) life-style inventory C) semantic differential scale D) image analysis scales E) store analysis
Last year, Rasband Corporation's variable costing net operating income was $57,000. The fixed manufacturing overhead costs deferred in inventory under absorption costing amounted to $30,000.Required:Determine the absorption costing net operating income last year.
What will be an ideal response?
IFRS permits upward asset revaluations, the recognition of unrealized increases in the fair value of long-lived assets under certain conditions
Indicate whether the statement is true or false
A distributorship franchisee is called a subfranchisor
Indicate whether the statement is true or false