FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

XYZ calculated the employees' December salary as $30,000. The payment will be made on January 10th. What is the journal entry on December 31. a.

image text in transcribed

XYZ calculated the employees' December salary as $30,000. The payment will be made on January 10th. What is the journal entry on December 31. a. Debit Salary Expense, Credit Salary Payable b. Debit Salary Payable, Credit Salary Expense O c. Debit Salary Payable, Credit Cash O d. Debit Cash, Credit Salary Expense

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

Auditing Sustainable Development Goals Key Principles And Tools For Supply Chain

Auditing Sustainable Development Goals Key Principles And Tools For Supply Chain

Authors: Barden Gonzalez

1st Edition

B0BZFDM86C, 979-8388651501

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider the linear programming problem: Maximize (x, y) = 1.75x + 1.25y Subject to 1.2x + 2.25y 14 x + 1.1y 8 2.5x + y 9 x 0 y 0 Obtain solution: (a) Graphically. (b) Using the simplex method....

Answered: 1 week ago

Question

★★★★★
1. Pay attention when the teacher reviews the answers. You can learn from your mistakes, and the same question may reappear in a later test.

Answered: 1 week ago

Question

★★★★★
Presented here are the accounts of Town and Country Realty for the year ended December 31, 2016: Land............ $ 5,000 Notes Payable......... 36,000 Property Tax Expense...... 3,400...

Answered: 1 week ago

Question

★★★★★
1 A manufacturing company is considering increasing its production rate to meet market demand by purchasing new machine. The cash flow is summarized in the table below. Calculate the discounted...

Answered: 1 week ago

Question

★★★★★
Tiffany and Carlos decided to liquidate their jointly owned corporation, Royal Oak Furniture (ROF). After liquidating its remaining inventory and paying off its remaining liabilities, ROF had the...

Answered: 1 week ago

Question

★★★★★
Which of the following statements IS NOT true for a stone attached to a string and swung in a uniform vertical circular motion? 1. The magnitude of resultant force acting on the stone changes...

Answered: 1 week ago

Question

★★★★★
Identify an example of a vision statement for an automobile manufacturing company. Multiple choice question. To offer the best luxury cars in the country To increase the number of workers in the...

Answered: 1 week ago

Question

★★★★★
a project is partially complete. the work package estimate was$297000,the contingency reserve is 34.5% and the management reserve is38.5% of the baseline. There are 2 approved change request based on...

Answered: 1 week ago

Question

★★★★★
Ashanti has one full year to go before she graduates and begins interviewing. Which step is most helpful for Ashanti toward her formal preparation for job hunting? Multiple Choice Select course...

Answered: 1 week ago

Question

★★★★★
Natalia is in her final semester at college, and wishes to prepare to secure a full - time Web developer position upon graduation. She believes potential employers will be favorably impressed by the...

Answered: 1 week ago

Question

★★★★★
(Appendices) AGING RECEIVABLES AND UNCOLLECTIBLE ACCOUNT EXPENSE. Perkinson Corporation sells paper products to a large number of retailers. Perkinsons accountant has prepared the following aging...

Answered: 1 week ago

Question

★★★★★
(Appendices) INTERNAL CONTROL FOR SALES. Yancys Hardware has three stores. Each store manager is paid a salary plus a bonus on the sales made by his or her store. On January 5, 19x6, Bill Slick,...

Answered: 1 week ago

Question

★★★★★
(Appendices) What is a sales discount? How can sales discounts be recorded? LO9

Answered: 1 week ago

Previous Question Next Question