Ellis Service Company Had the Following Unadjusted Balances at December

question 159

Essay

Ellis Service Company had the following unadjusted balances at December 31,2016: Salaries Payable,$0;Salaries Expense,$12,000.The following transactions took place on December 31,2016:
Accrued Salaries Expense,$5,000
Closed the Salaries Expense account.
The following transaction took place on January 4,2017:
Paid salaries of $6,000.This payment included $5,000 that was accrued on December 31,2016 and $1,000 for the first few days in January 2017.
Prepare the journal entry for January 4,2017,assuming that reversing entries were not made.

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Definitions:

Parent-Country National

An employee who is a citizen of the country where the headquarters of the multinational company is located, working abroad.

Parent-Country National

An employee who is a citizen of the country where the multinational company has its headquarters, working abroad in a foreign branch or subsidiary.

Host-Country National

An individual from the country where a foreign subsidiary is located and who works for that subsidiary.

Expatriates

Individuals who live and work outside their native country, often for professional assignments.