Mason Painting Services Has a Weekly Payroll of $27,000

question 118

Multiple Choice

Mason Painting Services has a weekly payroll of $27,000.December 31 falls on Wednesday and Mason will pay its employees the following Monday (January 5) for the previous full week.Assume that Mason has a five-day workweek and has an unadjusted balance in Salaries Expense of $810,000 at December 31.What amount should be debited to Salaries Expense on December 31?

• A) $810,000
• B) $10,800
• C) $27,000
• D) $16,200

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Definitions:

Ethical Conduct

Behavior that is consistent with principles of moral and ethical standards, which guide decision-making and actions.

External User

External User refers to individuals or entities outside of a company who use its financial statements to make decisions, such as investors, creditors, and regulatory agencies.

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The national government of a federated state, which holds the authority to govern the issues that affect the entire country.

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An independent organization responsible for establishing and improving financial accounting and reporting standards in the United States.