A business pays its employees' monthly salaries of $20,000, half on the 15th day of each month, and half on the first day of the following month. It is now October 15, and the business pays out $10,000 in salaries. Please provide the journal entry for that payment.
Definitions:
ROE
Return on Equity (ROE) is a financial ratio that measures the profitability of a company relative to shareholder equity.
Times Interest Earned Ratio
A financial ratio that measures a company's ability to meet its debt obligations, calculated as earnings before interest and taxes divided by interest expense.
Financial Statements
Documents detailing a company's financial performance, including balance sheets, income statements, and cash flow statements.
P/E Ratio
Price-to-Earnings Ratio, a valuation metric comparing the current share price of a company to its per-share earnings, used to evaluate if the stock is overvalued or undervalued.
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