Zuhoor Muscat Company pays a total of RO 21,600 salaries to its employees on the 23rd of each month (including the work for the 23rd). It uses 30 days as an average number of pay days per month. The necessary adjusting entry to be prepared to record accrued salaries on June 30, will include: O a. Credit to Salaries Expense for RO 16,560. O b. Debit to Salaries Expense RO 2,160. O c. None of the options are correct. O d. Debit to Salaries Expense RO 5,760. O e. Credit to Salaries Payable RO 5,040.

Zuhoor Muscat Company pays a total of RO 21,600 salaries to its employees on the 23rd of each month (including the work for the 23rd). It uses 30 days as an average number of pay days per month. The necessary adjusting entry to be prepared to record accrued salaries on June 30, will include: O a. Credit to Salaries Expense for RO 16,560. O b. Debit to Salaries Expense RO 2,160. O c. None of the options are correct. O d. Debit to Salaries Expense RO 5,760. O e. Credit to Salaries Payable RO 5,040.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 5RE: Garcia Company rents out a portion of its building to Jerry Company for 1,000 per month. On August...

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Garcia Company rents out a portion of its building to Jerry Company for 1,000 per month. On August 1, Jerry paid Garcia 12,000 for 1 year of rent in advance. Prepare journal entries for Garcia to record the collection ofrent and the related year-end adjusting entry on December 31.
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