A Company Made No Adjusting Entry for Accrued and Unpaid

question 100

Multiple Choice

A company made no adjusting entry for accrued and unpaid employee salaries of $9,000 on December 31. The entry to record the adjusting entry should have been:

• A) debit Salary Expense, $9,000; credit Cash, $9,000
• B) debit Salary Expense, $9,000; credit Fees Earned, $9,000
• C) debit Salary Expense, $9,000; credit Prepaid Salary, $9,000
• D) debit Salary Expense, $9,000; credit Salaries Payable, $9,000
• E) debit Salaries Payable, $9,000; credit Salary Expense

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Definitions:

Collective Bargaining Agreements

legally binding contracts negotiated between unions and employers that outline terms of employment, working conditions, and employee benefits.

Worker Protections

Laws, regulations, and practices designed to safeguard employees' rights and well-being in the workplace.

Multi-Industry

Pertaining to or involving several different industries or sectors of the economy.

Industry

The organized economic activity related to the production, manufacturing, or construction of goods and services within a particular sector.