The Salaries Are $6,000 Per Week of 5 Working Days

question 56

Multiple Choice

The salaries are $6,000 per week of 5 working days and are paid weekly at the end of Fridays.The end of the month falls on a Thursday.The accountant of Paramount Inc.made the appropriate accrual adjustment and posted it to the ledger.The final adjusted balance of Salaries Payable,as shown on the adjusted trial balance,will be a ________. (Assume that there was no beginning balance in the Salaries Payable account.)

• A)credit balance of $4,800
• B)debit balance of $1,200
• C)debit balance of $4,800
• D)credit balance of $1,200

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Definitions:

Short-Run

A period in which at least one factor of production is fixed, influencing how businesses can respond to changes in demand or supply.

Total Costs

The aggregate amount of all costs, both fixed and variable, incurred in producing goods or providing services.

Microwave Ovens

Electrical appliances that use microwave radiation to heat and cook food rapidly.

Average Variable Costs

The cost per unit of output that changes with the level of production, calculated by dividing the total variable costs by the quantity of output produced.