Question
Please answer all three questions per chegg guildlines. thank you 37. Marks Brothers pays employees a total of $5,000 salary each (5-day) work week. Employees
Please answer all three questions per chegg guildlines. thank you
37. Marks Brothers pays employees a total of $5,000 salary each (5-day) work week. Employees are paid every Friday. If December 31 (the year-end) falls on a Tuesday, what is the amount of salary expense recorded on that date?
a. $ 0
b. $2,000
c. $3,000
d. $5,000
38. Doug Partners had the following information for the year?
Service Revenues | 20,000 |
Depreciation Expense | 6,000 |
Rent Expense | 4,000 |
Supplies Expense | 3,000 |
Dividends | 1,000 |
If retained earnings were $66,000 at the beginning of the year, what are retained earnings at the end of the year?
$ 58,000
$ 72,000
$ 86,000
$100,000
40. From the list below, select all items that are current assets on the Balance Sheet.
Cash
Accounts receivable
Prepaid expenses
Supplies
Accounts payable
Salary payable
Unearned revenue
Loans payable
Equipment
Land
Accumulated depreciation
Common stock
Retained earnings
Dividends
Service revenue
Depreciation expense
Rent expense
Utilities expense
Salary expense
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