Ask Question
BusinessBusiness
15 November, 18:59

Buster Industries pays weekly salaries of $41,100 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is:A) debit Salaries Payable, $16,440; credit Cash, $16,440. B) debit Dividends, $16,440; credit Cash, $16,440. C) debit Salary Expense, $16,440; credit Salaries Payable, $16,440. D) debit Salary Expense, $16,440; credit Dividends, $16,440.

+1
Answers (1)
  1. 15 November, 20:05
    0
    C) debit Salary Expense, $16,440; credit Salaries Payable, $16,440

    Explanation:

    The adjusting entry is as follows

    Salaries expense Dr $16,440

    To Salaries payable $16,440

    (Being the salary expense is recorded)

    The computation is shown below:

    = $41,100 * 2 days : 5 days

    = $16,440

    While recording this we debited the salaries expense and credited the salary payable as it increased the expenses and liabilities account
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Buster Industries pays weekly salaries of $41,100 on Friday for a five-day week ending on that day. The adjusting entry necessary at the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The pretax financial income (or loss) figures for Whispering Company are as follows. 2015 $164,000 2016 275,000 2017 86,000 2018 (164,000) 2019 (390,000) 2020 113,000 2021 98,000 Pretax financial income (or loss) and taxable income (loss) were the
Answers (1)
Describe how bargaining may be different in the business and professional setting as opposed to other interpersonal interactions.
Answers (1)
What is the objective of the last step in the ethical decision-making framework? Multiple Choice to brainstorm any alternative courses of action to weigh the various alternatives and choose a course of action to identify the issue to gather facts
Answers (1)
The market for salmon is in equilibrium. A price ceiling, a price floor, and a quota limit in this market would all have what outcome in common? a. Inefficiencies created by a quantity exchanged that is less than the equilibrium quantity. b.
Answers (1)
Suppose a stock sells for $1,200 and pays no dividends. At the end of one year, the stock's price decreases to $1,000. What is the dollar return on an investment in this stock? $200.00 - $0.17 - $200.00
Answers (1)
New Questions in Business
If a tree grew more than 3 feet during the year, how much more likely is it that the tree was at most 50 yards from the river?
Answers (2)
An HP-10BII can solve problems with up to 15 beginning-of-year cash flows when there are no consecutive equal cash flows. True / False.
Answers (1)
Do you think we need to prioritize wants? why
Answers (1)
When the auditors discover an overstatement of accounts payable, they would most likely also expect to find an overstatement of:?
Answers (1)
This year Drake and his son purchased real estate for an investment. The price of the property was $1,200,000, and the title named Drake and his son as joint tenants with the right of survivorship.
Answers (1)
Home » Business » Buster Industries pays weekly salaries of $41,100 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Tuesday is:A) debit Salaries Payable, $16,440; credit Cash, $16,440.
Sign Up Forgot Password?