Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during the year, cheng company paid salaries of $2

During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has...

70.2K

Verified Solution

Question

Accounting

During the year, Cheng Company paid salaries of $24,000. In addition, $8,000 in salaries has accrued by the end of the year but has not been paid. The year-end adjusting entry would include which one of the following? Can anyone figure this out? Explain why?

A. Debit to Salaries Expense for $32,000.

B. Credit to Salaries Expense of $8,000.

C. Debit to Salaries Payable for $24,000.

D. Credit to Salaries Payable for $8,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Operations Management
1.2K views

What you can suggest the HR to do in \"managing the impact of social media in...

Medical Sciences
1.2K views

Planes and Quadrants Why is it valuable to divide the body into imaginary planes and quadrants? This is...

Chemistry
1.2K views

Among the following pairs of solvents, which layer would be on top? Or would they be...

Physics
1.2K views

the waveform of a flute is much simpler than that of an clarinet，why？

Biology
1.2K views

Which of the following is a proper noun? Bread Forty William

Physics
1.2K views

Every resistance of the circuit given in Fig 2 81 has been expressed in the...

Basic Math
1.2K views

Sketch the graph of the quadratic function.f(x) = 3x + 2Indicate the coordinates of the...

Calculus
1.2K views

Three airport runways intersect to form a triangle, ABC. The length of AB is 3.1...

Accounting
1.2K views

PLEASE HELP AND SHOW ALL CALCULATIONS PLEASE AM SUPER CONFUSED ...

Accounting
1.2K views

Prepare the "Cash flows from (used for) operating activities" section of the statement of cash...

Accounting
1.2K views

17. Curley Inc. projected sales of 48,000 personal journals for 20Y6. The estimated January 1,...

Finance
1.2K views

: Calculation of Net Employment Income for an Individual Read the following scenario: Jane Jackson...