Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TB MC Qu. 181 A company pays its employees... A company pays its employees $4,100 each Friday, which amounts to $820 per day for the

image text in transcribed
image text in transcribed
TB MC Qu. 181 A company pays its employees... A company pays its employees $4,100 each Friday, which amounts to $820 per day for the five-day workweek that begins on Monday. If the monthly accounting period ends on Thursday and the employees worked through Thursday, the amount of salaries earned but unpaid at the end of the accounting period is: Multiple Choice 5820. On April 1, Otisco, Inc. paid Garcia Publishing Company $2,448 for 36-month subscriptions to several different magazines. Otisco debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Otisco, Inc. after adjustments on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made? Multiple Choice OSO. Our O $2.448 Ina VO $816

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

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

Financial Intelligence For Entrepreneurs What You Really Need To Know About The Numbers

Authors: Karen Berman, Joe Knight

1st Edition

1422119157, 9781422119150

More Books

Students also viewed these Accounting questions

Question

Identify three improper customer etiquette behaviors.

Answered: 1 week ago