Match Incorporated recorded salary expense of $120,000 in 2012. However, additional salaries of $9,000 had been earned, but not paid or recorded at December 31, 2012. After the adjustments are recorded and posted at December 31, 2012, the balances in the Salaries Expense and Salaries Payable accounts will be Salaries Expense Salaries Payable
A) $129,000 $9,000
B) $120,000 $ 0
C) $120,000 $9,000
D) $109,000 $ 0
A
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In process costing, which of the following is recorded by debiting the Manufacturing Overhead account?
A) transfer of units from one process to the next B) direct labor costs incurred C) depreciation on factory machinery D) electricity used in the sales office
Marcy and Elliot are both sophisticated merchants who deal in diamonds. Marcy contracted to purchase a diamond for $20,000 . The day after the purchase, Marcy took the diamond to a jeweler's show but the highest offer for the diamond was only $10,000 . Is Marcy's contract for purchase of the diamond for $20,000 unconscionable?
If the price for a product increases, the demand for the complementary product will
A. become more inelastic. B. decrease. C. become more elastic. D. increase. E. stay the same.
Under common law, which of the following persons is most likely to be classified as an invitee?
A) a mail carrier B) a social guest C) a door-to-door salesperson D) a solicitor for a charitable organization