Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Apr 02, 2022

Employees of Robert Rogers, CPA, worked during the last two weeks of December. They received their paychecks on January 2. The matching principle would

Employees of Robert Rogers, CPA, worked during the last two weeks of December. They received their paychecks on January 2. The matching principle would require a journal entry with a credit of on December 31.

Step by Step Solution

★★★★★

3.46 Rating (149 Votes )

There are 3 Steps involved in it

Step: 1

Salaries payable on December 31 ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Cornerstones of Managerial Accounting

Authors: Mowen, Hansen, Heitger

3rd Edition

324660138, 978-0324660135

More Books

Students also viewed these Accounting questions

Question

★★★★★

During Year 1, Its first year of operations, a company provides services on account of $134,000 By the end of Year 1, cash collections on these accounts total $97,000. The company estimates that 25%...

Answered: 1 week ago

Question

★★★★★

The following occurred for a company during the last two months of its fiscal year ended May 31, 2014: Apr. 1 Paid $7,200 for future consulting services. 1 Paid $1,920 for insurance through March 31...

Answered: 1 week ago

Question

★★★★★

The following occurred for a company during the last two months of its fiscal year ended May 31, 2020: Required 1. Prepare entries for April and May under the approach that records prepaid expenses...

Answered: 1 week ago

Question

★★★★★

Use the following data to calculate cost of merchandise sold under the FIFO method. September 1 Beginning Inventory 15 units at $20 each September 10 Purchase 20 units at $25 each September 20...

Answered: 1 week ago

Question

★★★★★

The National Oceanic and Atmospheric Administration publishes temperature and precipitation information for cities around the world in Climates of the World. Data on average high temperature (in...

Answered: 1 week ago

Question

★★★★★

Organizational behavior provides valuable knowledge to improve and maintain organizational effectiveness. Scan through the topics of this book to identify a few ways that OB knowledge is useful. Your...

Answered: 1 week ago

Question

★★★★★

Statistical regression: Were extreme groups used?

Answered: 1 week ago

Question

★★★★★

The following questions address issues concerning internal control. Ford 10-K and Toyota 20-F a. Both Ford and Toyota management comment on the fact that internal control over financial reporting has...

Answered: 1 week ago

Question

★★★★★

Required information Problem 9-4A (Algo) Estimating warranty expense and liability LO P4 [The following information applies to the questions displayed below.] On October 29, Lobo Company began...

Answered: 1 week ago

Question

★★★★★

1. Treating Cost/Mile as the dependent variable, develop an estimated regression with Family-Sedan and Upscale-Sedan as the independent variables. Discuss your findings. 2. Treating Value Score as...

Answered: 1 week ago

Question

★★★★★

Suppose a distribution has Mean=20, Median=10, and SD=15. Then, the value of coefficient of skewness is, a) b) c) d) 1.50 2.00 -2.00 -3.00

Answered: 1 week ago

Question

★★★★★

In order to show more reported gains or less reported losses on the income statement, "gains trading" can be accomplished by selling securities classified as ____ with gains or by transferring...

Answered: 1 week ago

Question

★★★★★

A worker in charge of assembling a bicycle finds a faster way to mount the pedals. He turns to his supervisor. The supervisor explains that the process had been optimized by the engineering...

Answered: 1 week ago

Question

★★★★★

Gamma Manufacturing has prepared the following flexible budget for October and it is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable...

Answered: 1 week ago

Question

★★★★★

What is the role of the customer in service operations? A.) They facilitate collaboration between suppliers B.) They are responsible for majority of fixed costs. C.) They are a supplier of process...

Answered: 1 week ago

Question

★★★★★

A contract to purchase a year of business consulting has a base price of $25,000 but also includes a bonus of $5,000 if the company's performance metrics improve by 10%. Due to the extensive amount...

Answered: 1 week ago

Question

★★★★★

At the start of 1996 , the annual interest rate was 6 percent in the United States and 2.8 percent in Japan. The exchange rate was 104 yen per dollar at the time. Mr. Jorus, who is the manager of a...

Answered: 1 week ago

Question

★★★★★

TRUE-FALSE QUESTIONS 1. In terms of preliminary analytical procedures, assume that the company has introduced a new product with a low price point and significant customer demand. The auditor would...

Answered: 1 week ago

Question

★★★★★

Loren Inc. manufactures products that pass through two or more processes. During April, equivalent units were computed using the FIFO method: Units started and completed 4,600 Units in BWIP Fraction...

Answered: 1 week ago

Question

★★★★★

Ionia Company uses a normal job-order costing system. The company has two departments through which most jobs pass. Overhead is applied using a plantwide overhead rate of $12 per direct labor hour....

Answered: 1 week ago

Question

★★★★★

Refer to the Farnsworth Company information in Problem 3-41. However, now assume that Tracy has used the method of least squares on the receiving data and has gotten the following results: Intercept...

Answered: 1 week ago

Question

★★★★★

Compute a simple index for the revenue of GE. Use 2004 as the base period. What can you conclude about the change in revenue over theperiod?

Answered: 1 week ago

Question

★★★★★

Compute a simple index for the number of employees for GE. Use 2004 as the base period. What can you conclude about the change in the number of employees over theperiod?

Answered: 1 week ago

Question

★★★★★

Compute a simple index for the number of employees for GE using the period 200406 as the base. What can you conclude about the change in the number of employees over theperiod?

Answered: 1 week ago

Previous Question Next Question