Salaries Are $4,000 Per Week for Five Working Days and Are

question 87

Multiple Choice

Salaries are $4,000 per week for five working days and are paid weekly at the end of the day on Fridays.The end of the month falls on a Thursday.The accountant for Sunset Company made the appropriate accrual adjustment and posted it to the ledger.The 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 $3,200
• B) debit balance of $800
• C) debit balance of $3,200
• D) credit balance of $800

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Definitions:

Producing

The process of creating goods or services by combining various elements or resources.

Boots

Footwear that covers not only the feet but also the ankles and sometimes extends up to the knees or higher, designed for protection, style, or both.

Pairs

Pairs are sets of two items or entities considered together, often because they are related or function together.

Cost Curve

A graphical representation showing how the cost of producing a good varies with the level of output.