{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T07:46:56-04:00", "answer_date": "2024-06-28 07:46:56", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4265968", "url": "\/study-help\/questions\/at-december-31-2016-accrued-expenses-primarily-included-608-million-4265968", "question_creation_date_js": "2024-06-28T07:46:56-04:00", "question_creation_date": "Jun 28, 2024 07:46 AM", "meta_title": "[Solved] At December 31, 2016, accrued expenses pr | SolutionInn", "meta_description": "Answer of - At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7 million of accrued compensation and | SolutionInn", "meta_keywords": "december,31,2016,accrued,expenses,primarily,included,$60.8,million,$24.7,compensation,benefits", "question_title_h1": "At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7 million of accrued compensation and benefits and marketing expenses, respectively. At December 31,", "question_title": "At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7", "question_title_for_js_snippet": "At December 31, 2016, accrued expenses primarily included $60 8 million and $24 7 million of accrued compensation and benefits and marketing expenses, respectively At December 31, 2015, accrued expenses primarily included $63 8 million and $17 8 million of accrued compensation and benefits and marketing expenses, respectively 1 Prepare journal entries representative of the two adjusting entries recorded by Under Armour, Inc for compensation and marketing expenses at December 31, 2016 Indicate the impact ( increase, or decrease) of the entries on the balance sheet and income statement categories Assume that in 2017, Under Armour, Inc paid the compensation and marketing expenses accrued at the end of 2016 Prepare summary journal entries representing payment of the accrued expenses Indicate the impact ( increase, or decrease) of the entries on the balance sheet and income statement categories ", "question_description": "

At December 31, 2016, accrued expenses primarily included $60.8 million and $24.7 million of accrued compensation and benefits and marketing expenses, respectively. At December 31, 2015, accrued expenses primarily included $63.8 million and $17.8 million of accrued compensation and benefits and marketing expenses, respectively.<\/p>

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1.Prepare journal entries representative of the two adjusting entries recorded by Under Armour, Inc. for compensation and marketing expenses at December 31, 2016. Indicate the impact (+<\/span> = increase, or-= decrease) of the entries on the balance sheet and income statement categories. <\/p>

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Assume that in 2017, Under Armour, Inc. paid the compensation and marketing expenses accrued at the end of 2016. Prepare summary journal entries representing payment of the accrued expenses. Indicate the impact (+ = increase, or-= decrease) of the entries on the balance sheet and income statement categories.<\/p>

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\"image<\/div><\/div><\/div>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "B09KNGJNBW", "uri": "\/textbooks\/statistical-mechanics-a-companion-to-the-first-few-weeks-1st-edition-979-8756133301-289581", "name": "Statistical Mechanics A Companion To The First Few Weeks", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:46:56", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/multiplechoice-questions-1-the-quality-of-an-organizations-internal-controls", "description": "MULTIPLE-CHOICE QUESTIONS 1. The quality of an organization's internal controls affects which of the following? a. 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