Laguna Realty Co. pays weekly salaries of $8,000 on Friday for a five-day week ending on that

Question:

Laguna Realty Co. pays weekly salaries of $8,000 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends

(a) On Monday or

(b) On Wednesday

Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Survey of Accounting

ISBN: 978-1305961883

8th edition

Authors: Carl S. Warren

See More Books

Question Posted: Feb 16, 2017 09:18 AM

See More Questions

Oceanside Realty Co. pays weekly salaries of $3,700 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends? (a) On...
Townes Realty Co. pays weekly salaries of $15,000 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends? (a) On...
North Slope Realty Co. pays weekly salaries of $7,900 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a)...
East Corp is a mature company and expects its sales and operating costs to be fixed (or unchanged) in perpetuity. It has sales of $524,000 and operating costs of $272,480. The firm has a tax rate of...
1. Is the court ordering the company to allow a vote on the union? 2. Why do courts use bargaining orders in cases like this?
You have the following information regarding dividends and taxation for Brain and Co., a software house. Profit and Loss Account (Extract) Balance Sheets as at 31 December (Extracts) (from Year to 31...
Are the key management and technical personnel capable, and do they have a track record in the industry within which they must compete?
Chain AB supports a horizontal, uniform steel beam having a mass per unit length of 85 kg/m. If the maximum tension in the cable is not to exceed 8kN, determine (a) The horizontal distance a from A...
Please answer the following questions by filling out Schedules C, E, and Form 1040. Comprehensive Problem Dick and Tina Bench live at 230 Main Street, Platteville, WI 53818, and their Social Security...
Palins Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information...
Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $15,000 in The Fifth...
Accrued salaries of $6,750 owed to employees for December 30 and 31 were not considered when preparing the financial statements for the year ended December 31, 20Y6. Indicate which items will be...
If 5 cards are dealt from a standard 52-card deck, how many different ways can 3 kings and 2 queens be dealt?
solve for x 4 . 0 a 2 = 2 . 0 a x
BUSINESS SOLUTIONS Comparative Balance Sheets March 3 1 , 2 0 2 2 December 3 1 , 2 0 2 1 Assets Cash $ 8 4 , 7 8 7 $ 5 7 , 8 7 2 Accounts receivable 2 4 , 2 6 7 5 , 0 6 8 Inventory 6 1 4 0 Computer...
Solve:z-18=-103.
Complete the social penetration exercise and post your reactions in the discussion. PIRATION Purpose: 1. To help you understand the breadth and depth of self-disclosure. 2. To help you see the...
The implicit equation of x = sin ( t ) and y = 2 cos ( t ) is:
Starting with a variable text containing an empty string, write a loop that prompts the user to type a word. Add the users input to the end of text and then print the variable. The loop should repeat...
Write a while loop that uses an explicit iterator to accomplish the same thing as Exercise 7.3. Exercise 7.3. Write a for-each loop that calls the addInterest method on each BankAccount object in a...
Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Payable b. Accumulated Depreciation c. Bo Erath, Capital d. Bo Erath, Drawing e. Cash f....
Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Payable b. Accumulated Depreciation c. Bo Erath, Capital d. Bo Erath, Drawing e. Cash f....
Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Payable b. Accumulated Depreciation c. Bo Erath, Capital d. Bo Erath, Drawing e. Cash f....
assume that we have only two following risk assets (stock 1&2) in the market. stock 1 - E(r) = 20%, std 20% stock 2- E(r) = 10%, std 20% the correlation coefficient between stock 1 and 2 is 0. and...
Flexible manufacturing places new demands on the management accounting information system and how performance is evaluated. In response, a company should a. institute practices that reduce switching...
Revenue and expense items and components of other comprehensive income can be reported in the statement of shareholders' equity using: U.S. GAAP. IFRS. Both U.S. GAAP and IFRS. Neither U.S. GAAP nor...

Laguna Realty Co. pays weekly salaries of $8,000 on Friday for a five-day week ending on that

Question:

Step by Step Answer:

a Salary Expense increase 1600 800...View the full answer

Survey of Accounting

Students also viewed these Accounting questions