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:
Debit Unpaid Salaries $600 and credit
Salaries Payable $600
Debit Salaries Expense $400 and credit
Salaries Payable $400
Debit Salaries Expense $600 and credit
Salaries Payable $600
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?