The adjusting journal entry for accrued salaries at year-end:
To record the accrued salaries at year-end, Salaries Expense account is debited and Salaries Payable account is credited with the amount of accrued salaries. The adjusting journal entry for accrued salaries at year-end that amounted to $1,000 shall be as follows:
Salaries Expense Debit $1,000
Salaries Payable Credit $1,000
Answer:
option A is correct
Paid-In Capital in Excess of Par will be credited for $150,000
Explanation:
Given data
share = 5000
share value = $5 / common stock
cash = $175000
to find out
find the option which is correct
solution
we know here we have cash value $175000
and
total common stock is = share × share value
total common stock =5000 × 5
total common stock value is $25000
so paid capital in excess = cash - total common stock value
paid capital in excess = 175000 - 25000
paid capital in excess is $150000
so option A is correct
Paid-In Capital in Excess of Par will be credited for $150,000
Answer:
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