Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 28, 2024

The employees of Neat Clothes work Monday through Friday. Every other Friday the company issues payroll checks totaling $32,000. The current pay period ends on

The employees of Neat Clothes work Monday through Friday. Every other Friday the company issues payroll checks totaling $32,000. The current pay period ends on Friday, July 3. Neat Clothes is now preparing quarterly financial statements for the three months ended June 30. What is the adjusting entry to record accrued salaries at the end of June?

Salaries expense22,400Prepaid salaries9,600Salaries payable32,000Salaries expense6,400Salaries payable6,400Prepaid salaries9,600Salaries payable9,600Salaries expense22,400Salaries payable22,400

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered 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

Intermediate Accounting Volume 2

Authors: Thomas H. Beechy

5th Edition

0071091319, 978-0071091312

Students also viewed these Accounting questions

Question

★★★★★

How fast do horses run? Kentucky Derby winners top 30 mph, as shown in the graph. This graph shows the percentage of Kentucky Derby winners that have run slower than a given speed. Note that few have...

Answered: 1 week ago

Question

★★★★★

Discuss teaching methods for English language learners including English immersion, bilingual instruction, and sheltered instruction.

Answered: 1 week ago

Question

★★★★★

Under Lennon Hospitals rate structure, it earned patient service revenue of $9 million for the year ended December 31, 2010. However, Lennon did not expect to collect this entire amount because it...

Answered: 1 week ago

Question

★★★★★

[ The Information presented here applies to questions 8 , 9 , 1 0 , 1 1 , 1 2 , and 1 3 . ] You are working on cash flow projections for a 3 8 , 0 0 0 square foot offce building which is occupied by...

Answered: 1 week ago

Question

★★★★★

2-8B: S=40, X=38, r=.02, t=1, sigma=.2965, so variance, sigma squared, is .0879

Answered: 1 week ago

Question

★★★★★

Consider the following integral. 7 I = log(4x) dx The best way to find an antiderivative for log(4x) is to use the integration by parts formula Suv'dx = uv- = uv f u'vdx where u(x) = log(4x) v'(x) =...

Answered: 1 week ago

Question

★★★★★

Designing a Norman Window A Norman window has the shape of a rectangle surmounted by a semicircle. Find the dimensions of a Norman window of perimeter 26 ft that will admit the greatest possible...

Answered: 1 week ago

Question

★★★★★

Manager T. C. Downs of Plum Engines, a producer of lawn mowers and leaf blowers, must develop an aggregate plan given the forecast for engine demand shown in the table. The department has a normal...

Answered: 1 week ago

Question

★★★★★

Case study on The Toronto Ultimate Club By reading this recommendation 3. Elaborate on what it's trying to say. Recommendation 3 : TUC will hire an additional employee to assist Jason Robinson,...

Answered: 1 week ago

Question

★★★★★

The goal of this lab is to segment a given network address using VLSM (Variable Length Subnet Mask). After completing this lab, you will be able to: Calculate subnets Materials Required This lab...

Answered: 1 week ago

Previous Question Next Question