« previous next »

Author Question: A business pays bi-weekly salaries of 20,000 every other Friday for a ten-day period ending on that ... (Read 112 times)

geoffrey

  • Hero Member
  • *****
  • Posts: 880
on: Jul 5, 2018
A business pays bi-weekly salaries of 20,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December 27 . Assuming the next pay period begins on Monday, December 30 and the proper adjusting entry is journalized at the end of the fiscal period (December 31). The entry for the payment of the payroll on Friday, January 10 includes a
 a. debit to Salary Expense of 16,000 b. debit to Salary Expense of 4,000
  c. credit to Salary Payable of 16,000 d. credit to Salary Payable of 4,000

Question 2

Liabilities in the General Fund and Special Revenue Fund represent:
 
  a. claims against the fund's cash resources
  b. claims against the fund's current financial resources
  c. claims against the fund's economic resources
  d. claims that must be paid within one year


flannelavenger

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Time Line of Human History From Upper Paleolithic Period to the Present Time Line of Human History From Upper Paleolithic Period to the Present
Carboniferous Period Carboniferous Period
Legal Environment of Business: Online Commerce, Ethics, and Global Issues (Cheeseman) Legal Environment of Business: Online Commerce, Ethics, and Global Issues (Cheeseman)
Embryonic Period Embryonic Period
Embryonic Period - 8th week Embryonic Period - 8th week
Business question Business question
Video: Diversity of Living Creatures - Charles Darwin & the Beagle's Voyage

For a complete list of videos, visit our video library