Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 31, year 1, a company recognized $750

On December 31, Year 1, a company recognized $750 of accrued salary expense. The company...

60.1K

Verified Solution

Question

Accounting

On December 31, Year 1, a company recognized $750 of accrued salary expense. The company paid cash to the employees in Year 2. Which of the following shows how these events will affect the companys ledger accounts on December 31, Year 1?
Multiple Choice
Assets = Liabilities + Stockholders Equity
Cash + Accounts Receivable = Salaries Payable + Common Stock + Retained Earnings
(750)750
Assets = Liabilities + Stockholders Equity
Cash + Accounts Receivable = Salaries Payable + Common Stock + Retained Earnings
(750)(750)
Assets = Liabilities + Stockholders Equity
Cash + Accounts Receivable = Salaries Payable + Common Stock + Retained Earnings
(750)(750)
Assets = Liabilities + Stockholders Equity
Cash + Accounts Receivable = Salaries Payable + Common Stock + Retained Earnings
750(750)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Terri Vogel, an amateur motorcycle racer, averages 129.99 seconds per 2.5 mile lap (in a 7...

Statistics
Q

What are examples from your own life of your language shaping your worldview and how does...

Psychology
Q

kernel PCA derivation exlpained on an elementary level

Advance Math
Q

28. In a fixed price contract, the fee or profit is: A. Unknown B. Part of the...

General Management
Q

Climbing a wall of ice requires careful interaction among all parts of the body You...

Biology
Q

3 A minnor of focal length 0 5 has an expect in event at 1...

Physics
Q

1 The following sets of values for Cy and Cp of a gas have been...

Physics
Q

The force acting on a particle cons move along y axis varies as shown below...

Physics
Q

What account is debited to pay for water and garbage? What account is credited?

Accounting
Q

has anyone been able to get the correct answer to the T accounts and the...

Accounting
Q

INTERMEDIATE ACCOUNTING I HANDOUT PROBLEM 7 Score Name Section Problem (10 points). Presented below are...

Accounting
Q

INFORMATION Statement of comprehensive income...

Accounting