An adjusting journal entry to recognize accrued salaries payable would cause which of the following? a. A

Question:

An adjusting journal entry to recognize accrued salaries payable would cause which of the following?

a. A decrease in assets and stockholders’ equity
b. A decrease in assets and liabilities
c. An increase in expenses, liabilities, and stockholders’ equity
d. An increase in expenses and liabilities and a decrease in stockholders’ equity

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

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals Of Financial Accounting

ISBN: 9781265440169

7th Edition

Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby

See More Books

Question Posted: Nov 01, 2021 01:16 AM

See More Questions

Following a 10% decrease in her annual salary, what percent increase would an employee need to receive in future to get back to her original salary level?
Which of the following assets is not eligible for bonus depreciation? Multiple Choice Used office machinery Qualified improvement property A new delivery truck Used office furniture.
Which of the following would be expected to give a positive test with Benedicts reagent? Why? (a) D-Galactitol (see structure in margin) (d) D-Fructose (b) L-Arabinose (e) Lactose (c) 1,...
Lopez Company uses a job order cost accounting system that charges overhead to jobs on the basis of direct material cost. At year-end, the Goods in Process Inventory account shows the following. 1....
A piston cylinder contains air at 600 kPa, 290 K and a volume of 0.01 m3. A constant pressure process gives 54 kJ of work out. Find the final volume and temperature of the air.
Refer to Piaggios statement of cash flows in Appendix A. What investing activities result in cash outflows for the year ended December 31, 2011? List items and amounts.
Name two distinct features of Japanese, European and US management systems respectively.
On January 3, 2018, Rapid Delivery Service purchased a truck at a cost of $100,000. Before placing the truck in service, Rapid spent $3,000 painting it, $600 replacing tires, and $10,400 overhauling...
Sick Company producen jump ropes. Sick Company has the following sales projections for the upcoming year: First quarter budgeted mo rope salos in units 28.000 Second quartor budgeted jump rope sales...
In March 2011, Mary Tone organized a corporation to provide package delivery services. The company, called Tone Deliveries, Inc., began operations immediately. Transactions during the month of March...
What is a contra-asset? Give an example of one.
Complete this case, available online at the Connect eBook. By completing this case, you will learn to identify misstatements and make adjustments to correct the financial statements.
For the following exercises, identify the conic with a focus at the origin, and then give the directrix and eccentricity. r = 3 10+ 10 cos 0
The following information appears in the records of Poco Corporation at year-end: a. Calculate the amount of retained earnings at year-end. b. If the amount of the retained earnings at the beginning...
For the following four unrelated situations, A through D, calculate the unknown amounts appearing in each column: A B D Beginning Assets... $38,000 $22,000 $38,000 ? Liabilities.. 22,000 15,000...
On December 31, John Bush completed his first year as a financial planner. The following data are available from his accounting records: a. Compute John's net income for the year just ended using the...
Statement of Stockholders' Equity and Balance Sheet The following is balance sheet information for Flush Janitorial Service, Inc., at the end of 2019 and 2018: Required a. Prepare a balance sheet as...
Petty Corporation started business on January 1, 2019. The following information was compiled by Petty's accountant on December 31, 2019: Required a. You have been asked to assist the accountant for...
Preakness Consulting and Bellevue Services are two petroleum engineering firms located in Calgary. Both companies are very successful and are looking to attract additional investors to provide them...
The process of collaborative goal setting by a manager and subordinate, the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate's performance. It is...
Rawlco Communications operates 15 radio stations. The following events occurred during September. a. Placed an order for office supplies costing $ 2,000. Supplier intends to deliver later in the...
Assume Down.com was organized on May 1 to compete with Despair.com a company that sells de- motivational posters and office products. The following events occurred during the first month of Down.com...
Laser Delivery Services, Inc. (LDS) was incorporated January 1. The following transactions occurred during the year: a. Received $ 40,000 cash from the companys founders in exchange for common stock....
Suppose you bought a bon with an annual coupon rate of 6.5 percent one year ago for $1,032. The bond sells for $1,020 today. a. Assuming a $1,000 face value, what was your total dollar return on this...
During the year 2021, William has a job as an accountant, he earns a salary of $100,000. He has done some cleaning services work on his own (self-employed), where he earned a net income of $50,000....
Fixed cost per unit is $7 when 25,000 units are produced and $5 when 35,000 units are produced. What is the total fixed cost when 30,000 units are produced? Group of answer choices $150,000....

An adjusting journal entry to recognize accrued salaries payable would cause which of the following? a. A

Question:

Step by Step Answer:

Adjusting Journal entry General Journal Date Descrip...View the full answer

Fundamentals Of Financial Accounting

Students also viewed these Business questions