Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

1question two parts thank you! What journal entry would correct the following situation? The CFO needs to record a payroll accrual as of 9/30/21 for

1question two parts thank you!image text in transcribedimage text in transcribed

What journal entry would correct the following situation? The CFO needs to record a payroll accrual as of 9/30/21 for the next payday totaling $100,000 which is on 10/7/21. After providing the journal entry, list whether net income increases or decreases as a result of this journal entry. What journal entry would correct the following situation? The fair value of investments available for sale increased $25,000. After providing the journal entry, list whether net income increases or decreases as a result of this journal entry

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby

5th edition

978-0078025914

Students also viewed these Accounting questions