Solution-Pelican company made a december

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.

User Account

All Pages

Pelican company made a december

Reference no: EM131104235

Reference no: EM131104235

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT