On April 1 a new employee was hired for a salary of $800 On April 30, the timesheets show that the employee worked for a full month, but the salary will be paid on May Required With regard to the above situation a State whether it is a prepaid expense, unearned revenue, accrued revenue or an accrued expense b Assuming that the accounting period is 1 month, prepare the necessary adjusting entry on April 30 Answer a This situation is a OPrepaid Ounearned expense Revenue Accrued Expense OAccrued Revenue b The necessary adjusting entry is the following DATE ACCOUNT TITLES DEBIT CREDIT April 30 $

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On April 1 a new employee was hired for a salary of $800  On April 30, the timesheets show that the employee worked for a full month, but the salary will be paid on May  Required  With regard to the above situation  a  State whether it is a prepaid expense, unearned revenue, accrued revenue or an accrued expense  b  Assuming that the accounting period is 1 month, prepare the necessary adjusting entry on April 30  Answer a  This situation is a OPrepaid Ounearned expense Revenue Accrued Expense OAccrued Revenue b  The necessary adjusting entry is the following  DATE ACCOUNT TITLES DEBIT CREDIT April 30 $

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On April 1 a new employee was hired for a salary of $800. On April 30, the timesheets show that the employee worked for a

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