For Each of the Following Two Separate Situations,present Both the April

question 150

Essay

For each of the following two separate situations,present both the April 30 adjusting entry and the subsequent entry during May to record the payment of the accrued expenses or receipt of the accrued revenue.
a.Nicolas Company has 5 employees,who earn a total of $2,900 in salaries each working day.They are paid on Monday for the five-day workweek ending on the previous Friday.Assume that fiscal year ended April 30,is a Thursday and all employees worked each day and will be paid salaries for five full days on the following Monday.
b.Services of $3,000 have been performed for Clevenger Company through April 30.The client will pay the entire amount of the contract when services are completed on May 23.
c.Paid the employees' salaries on May 4.
d.Received payment from Clevenger Company for services that are now completed on May 23.

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Definitions:

Mixed Message

A mixed message results when words communicate one message as actions, body language or appearance communicate something else.

Body Language

Non-verbal communication through physical behaviors, such as gestures, facial expressions, and posture, which can convey emotions and intentions without words.

Nonverbal Communication

The transmission of messages or signals through a non-linguistic means, such as facial expressions, gestures, posture, and tone of voice.

Inanimate Objects

Items that do not possess life, such as furniture, books, and tools, which can be manipulated or used for various purposes.