Question

Identify which of the following accounts would be included in a post-closing trial balance. Salaries Expense

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Financial Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: how do an annual bonus paid at year end be treated under IAS 34 and how does this treatment differ f...

A: International Accounting Standard( IAS) is one of the older accounting standards which is issued by ...

Q: The controls in a computerized system are classified asa. input, processing, and output.b. input, pr...

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of ...

Q: Accounting Question

A: “Since you have posted a two question with sub-parts, we will solve one question for you. To get the...

Q: Journalize the following long-term, equity security transactions of Jeakin Department Stores:a. Purc...

A: Click to see the answer

Q: Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $401,300 has an estimated usefu...

A: Depreciation:   Depreciation refers to the reduction in the monetary value of a fixed asset due to ...

Q: Differentiate between marketable securities held for operating (transactions) purposes and securitie...

A: Marketable securities are short-term liquid Assets that can be liquidated to cash quickly. These sho...

Q: Accounting Question

A: Corporation: A corporation is an organization—usually a group of people or a company—authorized by t...

Q: During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has th...

A: Under FIFO method, inventory which is coming first in the store will be sold first. Ending inventory...

Q: Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on...

A: Depreciation is the non cash expenditure which is charged in the income statement. This expenditure ...

Q: Profit before tax for Juventus is estimated at $3,000,000 for the year ended June 30, 2019, during t...

A: Auditor is the person who is responsible for checking and verifying the truthfulness of the financia...

Q: Explain the features ofa corporation

A: Corporation: A corporation is a form of business entity that is incorporated through the state chart...

Q: Which of the following can be used to do an industry and company analysis?a. Business publicationsb....

A: Click to see the answer

Q: Prepare journal entries to record each of the following sales transactions of EcoMart Merchandising....

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: Flexible Budget and Variances for Depreciation Clark Company’s master budget includes$360,000 for eq...

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...

Q: A company uses the direct method to prepare the statement of cash flows. Select anactivity for each ...

A: Direct method-Cash flow statement:   In this method, the information from the operation segment of t...

Q: Explain why writing off a bad debt against the Allowance for Doubtful Accounts does not reduce the e...

A: The writing off a bad debt against the allowance for doubtful accounts does not reduce the estimated...

Q: Define serial bonds

A: Bonds: Bonds are defined as debt instruments which are usually issued by the company that borrows to...

Q: Constrained Optimization Analysis: Product-Mix Decision Sandalwood Company producesvarious lines of ...

A: Given: The former sells for $16 per square yard, while the latter sells for $25 per square yard (who...

Q: hen treasury stock is sold for less than its cost, the entry should include a debit toa. Gain on Sal...

A: When treasury stock is sold for less than its cost, then amount of cash received is debited, cost of...

Q: Choose from the following list of terms and phrases to best complete the following statements. a. Ca...

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic transaction...

Q: Togo’s Sandwiches acquired equipment on April 1, 2021, for $18,000. The company estimates a residual...

A: For the year 2021: 9 months is computed from April to December  

Q: Classify the accounts as either an asset (A), liability (L), or equity (EQ) account. Note Receivable

A: Note Receivable means to receive the money in future against the note owed by any debtor of the comp...

Q: Standard Costs in Process Costing (Chapter 6); All Variances and Journal Entries DashCompany adopted...

A: Click to see the answer

Q: What are some of the functions of a state board of public accountancy?

A: Click to see the answer

Q: The Pittsburgh division of Vermont Machinery, Inc., manufactures drill bits.One of the production pr...

A: 1.

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of inte...

A: Internal control system: Internal control system is a set of policies, procedures established to pro...

Q: Equipment includes machinery used in manufacturing, computers and other office equipment, vehicles, ...

A: Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a ...

Q: Prepare a statementof cash flows using thedirect method

A: Cash flow statement shows the cash generated and cash expense during a particular period. This state...

Q: A subsidiary ledger that contains a separate account for each supplier (creditor) to the company is ...

A: Answer: b. Accounts payable ledger.  

Q: When using the direct method of preparing the statement of cash flows, cash receipts fromoperating a...

A: Cash flow from operating activities: In the direct method, cash flow from operating activities is co...

Q: imes interest earned A company reports the following: Income before income tax expense $4,628,400 In...

A: Formula for times interest earned is "Income before interest expense and income taxes/Interest expen...

Q: Enterprise resource planning software a. Refers to programs that help manage company operations. b. ...

A: Answer:   Option a

Q: The A/P clerk of a company writes the checks for vendors, and the controller signs the checks. The A...

A: Given: The A/P clerk of a company writes the checks for vendors, and the controller signs the checks...

Q: A company with high earnings quality is more likely to experience________________than a company with...

A: A company with high quality earnings would experience high earnings in the future than a company wit...

Q: Define accounting

A: Accounting event: An economic transaction which brings about any changes in the financial items of a...

Q: Wiset Company completes these transactions during April of the current year (the terms of all its cr...

A: “Hey, since there are multiple sub-parts posted, we will answer first three sub-parts. If you want a...

Q: EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along ...

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: A car dealer acquires a used car for $14,000, with terms FOB shipping point. Compute total inventory...

A: Click to see the answer

Q: How is the equivalent unit calculation affected when direct materials are added at the beginning oft...

A: Direct materials are not added to the process uniformly throughout the processing period, rather it ...

Q: Abbott Landscaping purchased a tractor at a cost of $42,000 and sold it three years later for $21,60...

A: Annual depreciation (Straight line method) = (Cost of the assets - Salvage value) / Life of the asse...

Q: Markson had the following results of operations for the past year (shown in picture). A foreign comp...

A: A special order is a one-time business opportunity that requires a large quantity at a low price. To...

Q: Executional Cost Drivers: Internet Retailer Assume that you are a consultant for a start-upinternet ...

A: Cost driver: It is the element that causes or associates to a change in the total cost of an activit...

Q: What are the classes of transcription errors?

A: Definition: Internal control: Internal control is a process which ensures continuous reliability of ...

Q: On June 1, 2018, Sunland Company and Coronado Company merged to form Whispering Inc. A total of 870,...

A: Basic Earnings per Share (EPS) is the profit available to each equity shareholder. Diluted EPS compu...

Q: Fleet Sports purchased a production machine with a cost of $180,000 at the beginning of 2019. Transp...

A: Depreciation:   Depreciation refers to the reduction in the monetary value of a fixed asset due to ...

Q: HARDA Fashion sells ready-to-wear fashion clothes to teenagers. The company has a 20-store chain con...

A: Accounting system involves raising invoices, recording of transactions, reconciling the records with...

Q: 10) Jake and James received a 15-year mortgage of $300,000 to purchase a condominium. They negotiate...

A: Answer Sheet: Formula Sheet: The amortization period will be shortened by 1.9 years    

Q: General Transfer Pricing Rule; Goal Congruence American Motors Inc. is divided, for performance eval...

A: 2. The internal incremental cost properties are as follows: The selling division does not involve i...

Q: ournal Entries Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 720 p...

A: Journal entry: Journal entry is a recording of business transactions in the books of account. It is ...

Q: Several items are omitted from the Income statement and cost of goods manufactured statement data fo...

A:   On Company Off Company Beginning Material $56,530 $72,920 Ending material $48,620 (a) $82,40...