Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which journal entry reflects the adjusting entry n

Which journal entry reflects the adjusting entry needed on December 31?: It is December 31,...

70.2K

Verified Solution

Question

Accounting

Which journal entry reflects the adjusting entry needed on December 31?: It is December 31, the end of the fiscal year. During December, employees earned $800,000 in salaries, but paychecks do not get issued until January 2. No entry is needed. Dr. Salary Expense 800,000 Cr. Salaries Payable 800,000 Dr. Salary Expense 800,000 Cr. Cash 800,000 Dr. Cash 800,000 Cr. Salaries Payable 800,000 Dr. Salaries Payable 800,000 Cr. Cash 800,000

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

Desiree s Desserts wants to serve a dessert at 0 C A food inspector takes...

Algebra
Q

If calcium sulfate and barium sulfate do not form mixed crystals (i.e. they only form 1:1...

Chemistry
Q

Why is it important to know drug names and acronyms? REFLECT on your role as a...

Biology
Q

A fly has a genetic mutation that accelerates the breakdown of the period protein. a) How...

Biology
Q

Using the Action Planning template (Task 3) and relying on the current mission and vision in...

Physics
Q

When you created your Perimeter Design Project, if there had been a set budget of $10,000,...

Electrical Engineering
Q

Give specific example of the Quality Management Principle: • Principle 7: Factual approach to decision making

Accounting
Q

The yearly tuition cost at a specific university in California has been increasing exponential rate...

Basic Math
Q

A population of bacteria increases by 30 every hour. Is this situation linear or exponential?A)...

Basic Math
Q

1 point A researcher studying the effect of price cuts on consumers expectations makes up...

Statistics
Q

QUESTION 3 (20 Marks) Note: Where applicable, use the present value tables provided in APPENDICES...

Accounting
Q

prepare a personal balance sheet Companies are balance sheets in order to...

Accounting