« previous next »

Author Question: At year end December 31, 2010, McToil, Inc. owes its employees 15,000 for work performed in 2010. ... (Read 98 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
on: Jul 5, 2018
At year end December 31, 2010, McToil, Inc. owes its employees 15,000 for work performed in 2010. Payday is not until the first week in January 2011. Record the adjusting entry in the T-accounts provided.
 
  What will be an ideal response?

Question 2

The order in which financial statements should be prepared is
 a. balance sheet, income statement, statement of owner's equity.
   b. income statement, balance sheet, statement of owner's equity.
   c. statement of owner's equity, balance sheet, income statement.
   d. income statement, statement of owner's equity, balance sheet.


ultraflyy23

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 5, 2018
Answer to Question 1

Wages Payable
15,000

Wages Expense
15,000

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ... Prevalence of Diabetes in the United States, 2010–2012, Age 20 and Older, Based on Race and ...
Remove all jewelry before performing service work on any vehicle. Remove all jewelry before performing service work on any vehicle.
Value of Work versus GDP per Capita Value of Work versus GDP per Capita
Estimated number of new HIV infections per year over time period in Canada Estimated number of new HIV infections per year over time period in Canada
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Normal and abnormal blood pH

For a complete list of videos, visit our video library