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MaRussiya [10]
3 years ago
13

Sanborn Company has 10 employees, who earn a total of $3,300 in salaries each working day. They are paid on Monday for the five-

day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: a. Debit Salaries Expense, $9,900; credit Salaries Payable, $9,900. b. Debit Salaries Expense, $6,600; credit Salaries Payable, $6,600. c. Debit Salaries Expense, $16,500; credit Salaries Payable, $16,500. d. Debit Salaries Expense, $9,900; credit Cash, $9,900. e. Debit Salaries Payable, $9,900; credit Salaries Expense, $9,900
Business
1 answer:
Alika [10]3 years ago
5 0

Answer:

The correct option is A,debit salaries expense $9,900.00 and credit salaries payable $9,900.00

Explanation:

As at 31st December, which was a Wednesday, the company would have incurred salaries for three days i.e Monday-Wednesday.

If each day costs $3,300.00 in salaries ,hence three days would cost $9.900.00(3*$3,300.00) in total.

Since amount of salaries owed is $9,900.00, an entry  has to passed in salaries payable account to show that the business has an obligation of $9,900.00 to settle by crediting salaries payable account and the corresponding debit  entry would be in salaries expense account in order to recognize costs.

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Wiley and the shareholders have a private corporation. Formation of a private corporation is through incorporation, as is the case of Wiley wire corporation. Private corporations are established with a profit motive. Ownership of Wiley wire corporation will be restricted to Wiley and the other shareholders.

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Answer:

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2.Coach P. when selecting the rowers for the two teams should have looked at both the psychological(personality types and traits, if they are leader or followers etc.) as well as the physical aspect ( Stamina, Speed ,Coordination, Strength etc.) of each individual.

explanation:

1:Even though the varsity team consisted of the best individuals for speed , strength, coordination and endurance, they lacked the cohesiveness to perform as a unit. Each of the eight individual rowers had to be single-mindedly attuned to one another in order to synchronize their rowing and perform in unison. Unfortunately, the team also too many disruptor and lacked a leader.

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