Question

A business pays biweekly salaries of $20,000 every other Friday for a 10-day period ending on that day. The adjusting entry necessary at the end of the fiscal period ending on the second Wednesday of the pay period includes a a. debit to Salary Expense of $8,000 b. credit to Salary Expense of $16,000 c. debit to Salaries Payable of $8,000 d. credit to Salaries Payable of $16,000

Name: a business pays biweekly salaries of 20000 every other friday for a 10 day period ending on that day the adjusting entry necessary at the end of the fiscal period ending on the second wednes 98348
Uploaded: 2022-10-13T01:59:48-08:00
Duration: 1 min 31 s
Channel: Brooke Bussoletti
Description: a business pays biweekly salaries of 20000 every other friday for a 10 day period ending on that day the adjusting entry necessary at the end of the fiscal period ending on the second wednes 98348

          A business pays biweekly salaries of $20,000 every other Friday for a 10-day period ending on that day. The adjusting entry necessary at the end of the fiscal period ending on the second Wednesday of the pay period includes a
a. debit to Salary Expense of $8,000
b. credit to Salary Expense of $16,000
c. debit to Salaries Payable of $8,000
d. credit to Salaries Payable of $16,000

Added by Ricardo K.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Brooke Bussoletti

10/13/2022

Step 1

The business pays biweekly salaries of $20,000 every other Friday for a 10-day period ending on that day. The fiscal period ends on the second Wednesday of the pay period, and we need to make an adjusting entry for the salaries. Show more…

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A business pays biweekly salaries of $20,000 every other Friday for a 10-day period ending on that day. The adjusting entry necessary at the end of the fiscal period ending on the second Wednesday of the pay period includes a a. debit to Salary Expense of $8,000 b. credit to Salary Expense of $16,000 c. debit to Salaries Payable of $8,000 d. credit to Salaries Payable of $16,000