At the End of the Current Fiscal Year,an Analysis of the Payroll

question 55

Multiple Choice

At the end of the current fiscal year,an analysis of the payroll records of Bev Company showed accrued salaries of $22,200.The Accrued Salaries Payable account had a balance of $32,000 at the end of the current fiscal year,which was unchanged from its balance at the end of the prior fiscal year.The books of the company have not yet been closed.The entry needed in this situation would include a

• A) debit to Retained Earnings of $9,800.
• B) credit to Retained Earnings of $9,800.
• C) debit to Accrued Salaries payable of $9,800.
• D) debit to Salaries Expense of $9,800.

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Definitions:

Two-tail Test

A statistical test used to determine whether there is a significant difference between a sample and a population mean in either direction.

Sample Variances

A measure of the spread or dispersion of a set of sample data points.

Test Statistic

A value calculated from sample data during a hypothesis test used to determine whether to reject the null hypothesis.

F-distribution

The F-distribution is a probability distribution that arises in the analysis of variances for comparing the variances of two or more samples.