An adjusting entry made to record salaries earned but not yet paid or recorded is made with which of the following entries?
A) Salaries Expense - Debit; Cash - Credit
B) Salaries Payable - Debit; Salaries Expense - Credit
C) Salaries Expense - Debit; Salaries Payable - Credit
D) Cash - Debit; Salaries Expense - Credit
C
You might also like to view...
Which of the following statements is true?
a. If a company reports net income on its income statement, it should report an increase in cash on its statement of cash flows. b. If a company reports a net loss on its income statement, it should report a decrease in cash on its statement of cash flows. c. If a company uses the accrual basis of accounting, it will improve its cash position if it reports net income for the same period. d. If a company uses the accrual basis of accounting, its cash balance can increase even if it reports a net loss.
Court Corporation purchased supplies at a cost of $24,000 during 2012. At January 1, 2012, supplies on hand were $2,000. At December 31, 2012, supplies on hand are $2,100. Calculate supplies expense for 2012
A) $24,000 B) $23,900 C) $24,100 D) $28,100
The constant growth DCF model used to evaluate the prices of common stocks is conceptually similar to the model used to find the price of perpetual preferred stock or other perpetuities.
Answer the following statement true (T) or false (F)
Advantages of outsourcing project work may likely include all of the following EXCEPT
A. Reduced costs. B. Higher level of expertise. C. Shortened project duration. D. Increased flexibility. E. Reduced conflict.