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:  Group of answer choices debit Salary Expense, $9,000; credit Fees Earned, $9,000 debit Salary Expense, $9,000; credit Prepaid Salary, $9,000 debit Salary Expense, $9,000; credit Salaries Payable, $9,000

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Q: A business pays weekly salaries of $22,000 on Friday for a five-day week ending on that day.…

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Q: Butler Company's employees earn $500 per day and are paid on Friday for a five-day work week. This…

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Q: At December 31, the unadjusted trial balance of H&R Tacks reports Salaries and Wages Payableof…

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Q: Salaries payable amounting to P 34,000 was not recorded in 2021. Accrued vacation pay for the year…

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Q: The following information is available for ABC Inc. on April 30 for the year just ended. a. Unpaid…

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Q: An insurance company received advance payments of $12,000 from clients during the current year. At…

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Q: A partial trial balance of ABC Corporation is as follows on December 31, 2021.…

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Q: A review of the ledger of Baylor Company at December 31, 2020, produces the following data…

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Q: Due to payroll cut-off, the services of the employees from December 21 to 31, 2012 amounting to Php…

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Q: Prior to adjustment at April 30, the end of the current fiscal year, Salary Expense has a debit…

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Q: December 31, 20, according to the Trial Balance, the Salaries Expense account has a balance of…

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Q: Jaworski’s Ski Store is completing the accounting process for its first year ended December 31,…

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Q: Below are three independent and unrelated errors.   On December 31, 2020, Wolfe-Bache Corporation…

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Q: On September 30, ABC paid employee salaries of $7,000, including $1,000 it owed to its employees…

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Q: These errors were discovered in the account of Golden Arches Company: Salaries payable amounting to…

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Q: On September 1, Barnes Company received $39,000 for six months of rent in advance. Barnes credited…

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Q: On November 1s*, the company received a $50,000 payment from a customer for services to be rendered…

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Q: Prepare the necessary adjusting entries at December 31, 2021, for the Falwell Company for each of…

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Q: Buster Industries pays weekly salaries of $29,000 on Friday for a five-day week ending on that day.…

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Q: Aylmer Inc has a December 31 year end. Aylmer does not perform monthly adjusting entries. The…

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Q: Prepare the December 31 adjusting entry to record $450 of earned but unpaid salaries.

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Q: A company made no adjusting entry for accrued and unpaid employee salaries of $9,000 on December 31.…

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Q: During the year, Interior Lighting Corp. paid and recorded salaries of $24,000. In addition, $8,000…

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Q: On December 31, the trial balance shows wages expense of $1,065. An additional $355 of wages was…

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Q: Buster Industries pays weekly salaries of $42,250 on Friday for a five-day week ending on that day.…

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Q: The balance in the unearned rent account for Jones Co. as of December 31 is $1,200. If Jones Co.…

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Q: Below are three independent and unrelated errors. a. On December 31, 2020, Wolfe-Bache Corporation…

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Q: On December 31, 2020, Wolfe-Bache Corporation failed to accrue salaries expense of $1,450. In…

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Q: On December 31, Nam Do San Property management made an adjusting entry to record P30,000 management…

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Q: A review of the ledger of Flint Co. at December 31, 2022, produces the following data pertaining to…

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Q: A company's accounting year ends on 31st December 2021. During the year the company paid a salary of…

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Q: Dana Co.'s officers' compensation expense account had a balance of $224,000 at December 31, 20X4…

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Q: f. Salaries of $35,000 for employees for work done to the end of January has not been paid. h.…

A: Hi student Since there are multiple subparts, we will answer only first three subparts. Adjusting…

Q: By the end of December, Roberts Company has completed work, earning $4,700. Roberts company has…

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Q: Brady Company debited prepaid supplies for $850 on 7/1 for office supplies it was planning to use…

A: Supplies are the goods which are used within the business for general purposes. Given in the…

Q: the correct adjusting entry for accured and unpaid employee salaries of 8800 on dec 31 is  deb sal…

A: Adjusting entries indicates those entries, which are passed in the books of accounts at the end of…

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.