A company shows a balance in Salaries and Wages Payable of $38,000 at the end of the month. The next payroll amounting to $48,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? a. Salaries and Wages Expense 48,000
Salaries and Wages Payable 48,000
b. Salaries and Wages Expense 48,000
Cash 48,000
c. Salaries and Wages/Expense
Cash 10,000
d. Salaries and Wages Expense 10,000
Salaries and Wages Payable 38,000
Cash 48,000
Correct Answer:
Verified
Q123: If an adjusting entry is not made
Q125: On January 1, 2014, Doolittle Company purchased
Q126: Sebastian Belle, CPA, has billed her clients
Q128: At March 1, Psychocandy Inc. reported a
Q130: Failure to prepare an adjusting entry at
Q132: NWA Air Charter signed a four-month note
Q136: If an adjusting entry is not made
Q138: Sonic Youth Corporation purchased a one-year insurance
Q139: Sebastian Belle has performed $2,000 of CPA
Q140: Soundgarden Company collected $18,200 in May of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents