1) Potter Corporation pays its employees total salaries of $30,000 every other Friday for 10 workdays (employees don't work on Saturdays and Sundays). This year, the company's pay dates fall on November 20 (Friday) and December 4 (Friday). If Potter closes its books on November 30, which would it record with respect to salaries?

Select one:

a.

Salaries Expense	18,000
Cash		18,000

b.

Salaries Expense	18,000
Salaries Payable		18,000

c.

Salaries Expense	21,000
Cash		21,000

d.

Salaries Expense	15,000
Salaries Payable		15,000

2) On January 1, 2016, Green Construction began building a clothing factory. The contract price for the factory was $3,600,000, and it was expected to be complete by December 31, 2018. The actual and estimated costs throughout the project were as follows:

How much revenue would Simon Construction recognize in 2017?

On January 1, 2016, Green Construction began building a clothing factory. The contract price for the factory was $3,600,000, and it was expected to be complete by December 31, 2018. The actual and estimated costs throughout the project were as follows:

How much revenue would Simon Construction recognize in 2017?

Select one: a) 1.440,000 b) 1,080,000 c) 2,520,000 d) 2,250,000