User Account

All Pages

Pelican company made a december

Assignment Help Accounting Basics
Reference no: EM131104235

1. Pelican Company made a December 31 adjusting entry to debit Salaries Expense and credit Salaries Payable for $3,600. On January 2, Pelican paid the weekly payroll of $6,000. Prepare Pelican's 

(a) January 1 reversing entry; 
(b) January 2 entry (assuming the reversing entry was prepared); and
(c) January 2 entry (assuming the reversing entry was not prepared). 

Reference no: EM131104235

Questions Cloud

Monthly demand the optimal order quantity : Consider a basic economic order quantity (EOQ) model with the following characteristics: Item cost: $15 Item selling price: $20 Monthly demand: 500 units (constant) Annual holding cost: 9% of purchase cost Cost per order: $18 Order lead time: 5 days ..
Optimal package size-units optimal package price : The American Baker’s Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent increase in the demand for bran muffins. Most of the increase was attributed to a report that diets rich in bran help prevent..
Demonstrate process for engaging in evidence-based practice : The purpose of this assignment is for you to assess meaningful data for effective evaluation of child life services, and to demonstrate the process for engaging in evidence-based practice.
Firm optimal price-output and the resulting profits : Based on the following graph (which summarizes the demand, marginal revenue, and relevant costs for your product), determine your firm’s optimal price, output, and the resulting profits for each of the following scenarios: You charge the same unit pr..
Pelican company made a december : Pelican Company made a December 31 adjusting entry to debit Salaries Expense and credit Salaries Payable for $3,600. On January 2, Pelican paid the weekly payroll of $6,000. Prepare Pelican's
Important computer hardware developments : What are several important computer hardware developments that you expect to happen in the next ten years. How will these affect the business use of computers? please provide references and explanation.
Marching shop was ordering weekly demand for bolts : Marching shop was ordering weekly demand for bolts and nuts 240 units. Ordering cost $50 per unit per year, Bolt and Nuts unit cost $15 and annual carrying charge is 20% No. of Assume 52 weeks per year and lead time is 1 week find reorder number of u..
Stock market has set record for high values in recent months : The US stock market has set records for high values in recent months. This means the overall wealth of the populace has increased. What effect does this have on the following?
Smith company had cash receipts from customers : Smith Company had cash receipts from customers in 2005 of $152,000. Cash payments for operatingexpenses were $97,000.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine which project might be implemented and why eg

write an email response in which you address the following pointsdetermine which project might be implemented and why

  A company discloses realized and holding gains and losses

An important part of GAAP for marketable securities is the distinction between investments categorized as trading, available for sale, or held to maturity.

  Why does a stockholder prefer a high-volatility project

Why does a stockholder prefer a high-volatility project? Even though is will maximize the expected value of the company's equity, and therefore increase the value of the stockholder's shares, won't there also be a greater risk of loss on a project..

  Powerdrive co issued 2000 shares of its rm10 par value

powerdrive co. issued 2000 shares of its rm10 par value common stock for rm70 000. powerdrive also incurred rm1500 of

  How much in dividends will the company declare at the end

At the end of fiscal year 2010, the Acme Company wishes to declare $50,000 in common stock dividends. They currently have 100,000 shares of common stock outstanding and 5,000 shares of $100 par value, 5%, cumulative preferred stock.

  What are the net sales

Sales were $8,300,000, sales discounts were $100,000, sales returns and allowances were $45,000, and the cost of merchandise sold was $5,000,000.

  On june 1st green pea inc purchased 1200 worth ofsupplies

on june 1st green pea inc. purchased 1200 worth ofsupplies on account. how does this transaction affect green

  Benton and orton are partners who share income in the ratio

benton and orton are partners who share income in the ratio of 13 and have capital balances of 70000 and 30000

  Footings for a structure are to be built beneath

Footings for a structure are to be built beneath a basement slab

  Break even point and business card

Use of Lean and ABC in the Cookie Company. Provide you will the Power point, break even point and business card for you to see where were are at with the business.

  Would you change the accounting for the two departments

Melanie would like you, the staff accountant, to charge the advertising expense for the Hobby department to Toy's. With only these facts, would you change the accounting for the two departments?

  Problem regarding the price elasticity

Characterize each of the following goods and services in terms of their price elasticity of demand. In so doing, indicate whether a steeply sloped (vertical) and relatively inelastic demand curve, or a flat (horizontal) and relatively elastic dema..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd