The Correct Adjusting Entry for Accrued and Unpaid Employee Salaries

question 68

Multiple Choice

The correct adjusting entry for accrued and unpaid employee salaries of $9,000 on December 31 is:

• A)debit Salary Expense,$9,000;credit Cash,$9,000
• B)debit Salary Expense,$9,000;credit Fees Earned,$9,000
• C)debit Salary Expense,$9,000;credit Prepaid Salary,$9,000
• D)debit Salary Expense,$9,000;credit Salaries Payable,$9,000
• E)debit Salaries Payable,$9,000;credit Salary Expense $9,000

Recognize the longest-lasting relationships in most people's lives and their importance across the lifespan.

Understand the complexities of adult parent-child relationships, including caregiving and support dynamics.

Identify and characterize the developmental crises and transitions faced by adults, as proposed by Erikson and other developmental theories.

Define and distinguish the concepts of generativity, stagnation, filial maturity, and filial crisis in adulthood.

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Definitions:

Positive Net Worth

The financial status where total assets exceed total liabilities.

Obvious Theft

A situation where an act of stealing is clear and unmistakable to any observer.

Audit

A systematic examination and verification of a company's financial records, performance, or compliance with legal requirements.

Qualified Opinion

An auditor's statement that accompanies a company's financial statements, indicating that most parts of the financial statements are accurate, but there are reservations.