Flagg, Inc

question 41

Multiple Choice

Flagg, Inc. records adjusting entries at its December 31 year end. At December 31, employees had earned $12,000 of unpaid and unrecorded salaries. The next payday is January 3, at which time $30,000 will be paid. Prepare the journal on January 3 to record payment assuming the adjusting and reversing entries were made on December 31 and January 1.

• A)Debit Salaries expense $12,000; debit Salaries payable $18,000; credit Cash $30,000.
• B)Debit Salaries expense $30,000; credit Cash $30,000.
• C)Debit Salaries payable $30,000; credit Cash $30,000.
• D)Debit Salaries expense $18,000; debit Salaries payable $12,000; credit Cash $30,000.
• E)Debit Salaries expense $18,000; credit Cash $18,000.

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Definitions:

Health Care Providers

Professionals, institutions, or facilities that offer medical services, including diagnosis, treatment, and preventive care, to individuals.

Employee Assistance Programs

Employer-provided services offering confidential support and counseling to employees dealing with personal or work-related issues.

Chronic Personal Problems

Ongoing, persistent issues affecting an individual's personal life, which can impact their well-being, relationships, and potentially their job performance.

Job Performance

The level to which an employee executes their job duties and accomplishes professional tasks.