Question 5. Question: A company pays each of its two office employees each Friday at the rate of $ 100 per day each for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is: Salaries Payable $ 600
Salaries Payable $ 400
Salaries Payable $ 600
Debit Salaries Expense $ 400 and credit
Debit Salaries Expense $ 600 and credit
Debit Salaries Payable $ 400 and credit
Salaries Expense $ 400
Question 6. Question: A company ' s Office Supplies account shows a beginning balance of $ 600 and an ending balance of $ 400. If office supplies expense for the year is $ 3,100, what amount of office supplies was purchased during the period? Question 7. Question: A company had no office supplies available at the beginning of the year. During the year, the company purchased $ 250 worth of office supplies. On December 31, $ 75 worth of office supplies remained. How much should the company report as office supplies expense for the year?
Question 5. Question: A company pays each of its two office employees each Friday at the rate of $ 100 per day each for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is: Salaries Payable $ 600
Salaries Payable $ 400
Salaries Payable $ 600
Debit Salaries Expense $ 400 and credit
Debit Salaries Expense $ 600 and credit
Debit Salaries Payable $ 400 and credit
Salaries Expense $ 400
Question 6. Question: A company ' s Office Supplies account shows a beginning balance of $ 600 and an ending balance of $ 400. If office supplies expense for the year is $ 3,100, what amount of office supplies was purchased during the period? Question 7. Question: A company had no office supplies available at the beginning of the year. During the year, the company purchased $ 250 worth of office supplies. On December 31, $ 75 worth of office supplies remained. How much should the company report as office supplies expense for the year?