User Account

All Pages

What the adjusting entry would include

Assignment Help Accounting Basics
Reference no: EM132695564

Question - Showbiz, Inc's employees work five days per week. They are paid P1,200 every other Friday. December 31, 2017 is on a Monday. The next payday is January 4, 2018. What the adjusting entry would include?

a. credit to salary payable for P720

b. debit to salary payable for P720.

c. debit to salary expense for P1,200.   

d. credit to cash for P1,200.

Reference no: EM132695564

Questions Cloud

How much would you pay for a six-month T-bill : How much would you pay for a 6-month T-bill with a face value of $12,500and a rate that would yield 3.5% if there is 125 days remaining in the term
Make journal entries for the transactions given : Make journal entries for the transactions above, assuming reversing entries are not made at the beginning of each year. Round off amounts to nearest centavo
Stream analytic : Describe the motivation for and business drivers of Big Data analytics
Disaster and comprehensive recovery test : A simulated disaster and comprehensive recovery test may involve many of an organization's key personnel for several days:
What the adjusting entry would include : December 31, 2017 is on a Monday. The next payday is January 4, 2018. What the adjusting entry would include
What amount should be accrued for interest for this note : The note is dated October 1, 2014 and carried an original principal amount of P600,000. What amount should be accrued for interest for this note
Thinking about data analytics : When thinking about data analytics, how does transformational leadership assist with building good data structures?
Differences between internal auditor and external auditor : Describe 3 key differences between internal auditor and external auditor. List 5 areas of the computer system which might benefit from an IT audit
What will be the levered value of the equity : The current cost of equity is 12 percent and the tax rate is 35 percent. What will be the levered value of the equity

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a production cost worksheet

Surf Products Company uses an automated process to clean and polish its souvenir items. Prepare a production cost worksheet using the WEIGHTED AVERAGE method

  You want to determine the current value of an annuity that

1.when a person faces a trade-off and must give up something by making a choicethis is referred to astaking out a

  Compute ending inventory at cost

Martinez Inc. had beginning inventory of $11,100 at cost and $19,800 at retail. Compute ending inventory at cost using the conventional retail method

  Calculate the ending balance of total retained earnings

At the end of 20C, Allen Corporation reported a retained earnings credit balance of $50,000. The 20D ending balance of total retained earnings was

  Prepare journal entries for the declaration

Kaufman Company currently has 200,000 shares of $1 par common stock outstanding. Prepare journal entries for the declaration and distribution

  A manager is trying to decide whether to buy one machine or

a manager is trying to decide whether to buy one machine or two. if only one is purchased and demand proves to be

  Bishop co is evaluating a proposal to budget an additional

bishop co. is evaluating a proposal to budget an additional 100000 for advertising. fixed costs before the additional

  Comment on the results of your horizontal analysis of gap

The following data (in millions of dollars) were adapted from the January 29, 2005 and 2004 financial statements of The GAP Inc.

  Calculate the cost of goods completed during august

Calculate the cost of goods completed during August, and prepare the appropriate journal entry to record completed production

  Prepare the journal entries on december 28 and january 6

VTC paid the net-of-discount amount on January 6, 2012. Prepare the journal entries on December 28 and January 6 to record the purchase and payment.

  Determine a reliable predetermined benchmark

In your readings this module, you were introduced to Activity-Based Costing or ABC. It is a method used to determine a reliable predetermined benchmark.

  Determine how often the company should order

The Gilette Company buys a product using the price schedule given in the file P12_32.xlsx. The company estimates the unit holding cost at 10% of the purchase price and the ordering cost at $100 per order. Gilette's annual demand is 1500 units.

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