The employees of Able Company have worked the last two weeks of Year 1, but the employees' salaries have not been paid or recorded as of December 31, Year 1. The adjusting entry that Able should make to accrue these unpaid salaries on December 31, Year 1 is:

A. no entry is required until the employee is paid next period.
B. debit to Salaries Expense and credit to Cash.
C. debit to Salaries Payable and credit to Salaries Expense.
D. debit to Salaries Expense and credit to Salaries Payable.


Answer: D

Business

You might also like to view...

People are more likely to notice stimuli whose deviations are large in relation to the normal size of the stimuli

Indicate whether the statement is true or false

Business

When using a flexible budget, what occurs to fixed costs (on a per unit basis) as production increases?

a. Fixed costs are not considered in flexible budgeting. b. Fixed costs per unit will decrease. c. Fixed costs per unit will remain unchanged. d. Fixed costs per unit will increase.

Business

Which of the following statements about the lifetime value of a customer is true?

A) CRM helps companies identify their customers' lifetime value. B) All customers have the same lifetime value. C) A customer's lifetime value is easy to calculate. D) A company can either increase customer share or a customer's lifetime value, but not both. E) The value of the customer is related to the value of the brand.

Business

A(n) ____-based system is made up of units of information, such as online documents, database records, or the solution to a common incident, and a set of question and answer pairs that can be used to confirm the solution to an incident.

Fill in the blank(s) with the appropriate word(s).

Business