Flagg Records Adjusting Entries at Its December 31 Year End

question 21

Multiple Choice

Flagg records adjusting entries at its December 31 year end.At December 31,employees had earned $12,000 of unpaid and unrecorded salaries.The next payday is January 3,at which time $30,000 will be paid.Prepare the journal on January 3 to record payment assuming the adjusting and reversing entries were made on December 31 and January 1.

• A)Debit Salaries expense $12,000;debit Salaries payable $18,000;credit Cash $30,000.
• B)Debit Salaries expense $30,000;credit Cash $30,000.
• C)Debit Salaries payable $30,000;credit Cash $30,000.
• D)Debit Salaries expense $18,000,debit Salaries payable $12,000;credit Cash $30,000.
• E)Debit Salaries expense $18,000;credit Cash $18,000.

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Crystallized Intelligence

The ability to use learned knowledge and experience.

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Information or skills that an individual learns through experience, education, or training over time.

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A method of calculating intelligence quotient where an individual's score is expressed as a deviation from the mean score of the age group.