Homework Answers
Answer
a) $96000
salary paid in cash = $3000 + $97000 - $4000
= $96000
Please like if it is helpful.
Thanks.
Add Answer to:
2. Carrington, Inc. recorded $97,000 in salary expense for January, 2019. Its beginning balance in salaries...
At the end of 20x2 Company X had accrued $3,000 of salaries expense. The company’s beginning...
At the end of 20x2 Company X had accrued $3,000 of salaries expense. The company’s beginning and ending Salaries Payable balances were $12,000 and $14,000, respectively. How much cash did Company X pay on its Salaries Payable? If the ending salaries payable balance had been $10,500, how much cash would the company have paid on account?
Castile Inc. had a beginning balance of $2,300 in its Accounts Receivable account. The ending balance...
Castile Inc. had a beginning balance of $2,300 in its Accounts Receivable account. The ending balance of Accounts Receivable was $3,000. During the period, Castile recognized $37,000 of revenue on account. Castile's Salaries Payable account has a beginning balance of $1,800 and an ending balance of $1,200. During the period, the company recognized $33,800 of accrued salary expense. Required a. Based on the information provided, determine the amount of net income. b. Based on the Information provided, determine the amount...
Starlight Associates, Inc. recorded salary expense of $100,000 in 2017. However, additional salaries of $5,000 had...
Starlight Associates, Inc. recorded salary expense of $100,000 in 2017. However, additional salaries of $5,000 had been earned, but not paid or recorded at December 31, 2017. After the adjustments are recorded and posted at December 31, 2017, what are the balances in the Salaries Expense and Salaries Payable accounts? Salaries Expense Salaries Payable a. $105,000 $0 b. $105,000 $5,000 c. $100,000 $5,000 d. $100,000 $0
pay IU JUPT 5-39 Cash Paid to Employees Northgate Publishers, Inc., reported Wage and Salary Expense...
pay IU JUPT 5-39 Cash Paid to Employees Northgate Publishers, Inc., reported Wage and Salary Expense of $220,000 on its 20X1 income statement. It reported cash paid to employees of $185,000 on its statement of cash flows. The beginning balance of Accrued Wages and Salaries Payable was $18,000. What was the ending balance in Accrued Wages and Salaries Payable? Ignore payroll taxes. inting Activities was $185,000 on rev-
A company recorded 2 days of accrued salaries of $1,650 for its employees on January 31....
A company recorded 2 days of accrued salaries of $1,650 for its employees on January 31. On February 9, it paid its employees $7,500 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are: Multiple Choice 1/31 1,650 Salaries Expense Salaries Payable 1.650 2/9 Salaries Payable Salaries Expense Cash 5,850 1,650 7,500 1/31 1,650 Salaries Payable Salaries Expense 1,650 2/9 Salaries...
A company recorded 2 days of accrued salaries of $2,150 for its employees on January 31....
A company recorded 2 days of accrued salaries of $2,150 for its employees on January 31. On February 9, it paid its employees $8,500 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are: Multiple Choice 1/31 Salaries Payable 2,150 Salaries Expense 2,150 2/9 Salaries Expense 6,350 Salaries Payable 2,150 Cash 8,500 1/31 Salaries Expense 2,150 Salaries Payable 2,150 2/9 Salaries...
2. Eastline Inc. at January 31, 2019, shows the following Eastline Inc Adjusted Trial Balance Partial)...
2. Eastline Inc. at January 31, 2019, shows the following Eastline Inc Adjusted Trial Balance Partial) January 31, 2019 Credit Debit Supplies S 2,800 Prepaid Insurance 9.600 Salaries and Wages Payable Uneamed Revenue Supplies Expense 3.800 Insurance Expense Salaries and Wages Expense 7,200 Service Revenue $3,200 3,000 8,000 Instructions (20 pts) Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $3,400 of supplies was purchased...
A company recorded 2 days of accrued salaries of $1,450 for its employees on January 31....
A company recorded 2 days of accrued salaries of $1,450 for its employees on January 31. On February 9, it paid its employees $7,100 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are: Multiple Choice C) 1/ 1.450 salaries Expense Salaries Payable 1.450 12/9 salaries Expense Salarios Payable Cash 5,650 1,450 7,100 1,450 1/31 Salaries Expense Salaries Payable 1.450 2/9...
The expense account, Salaries Expense, has an unadjusted balance of $151,000 on Thursday, December 31, 2017. ...
The expense account, Salaries Expense, has an unadjusted balance of $151,000 on Thursday, December 31, 2017. The company operates five days a week with a daily payroll of $4,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). Determine the correct ending balance in Salaries Payable and Salaries Expense after the correct adjusting entry is made at year end: A. Salaries Payable Salaries Expense $4,000 $155,000 B. Salaries Payable Salaries Expense $4,000 $147,000 C. Salaries Payable Salaries Expense...
As of January 1, Year 2, Concepts Inc. had a balance of $4,500 in Cash and...
As of January 1, Year 2, Concepts Inc. had a balance of $4,500 in Cash and $2,500 in Common Stock, and $2,000 in Retained Earnings. These were the only accounts with balances at the beginning of Year 2. Further analysis of the company’s cash account indicated that during Year 2 the company had (1) net cash inflow from operating activities of $5,100, (2) net cash outflow for investing activities of $13,000, and (3) net cash inflow from financing activities of...
Castile Inc. had a beginning balance of $2,300 in its Accounts Receivable account. The ending balance of Accounts Receivable was $3,000. During the period, Castile recognized $37,000 of revenue on account. Castile's Salaries Payable account has a beginning balance of $1,800 and an ending balance of $1,200. During the period, the company recognized $33,800 of accrued salary expense. Required a. Based on the information provided, determine the amount of net income. b. Based on the Information provided, determine the amount...
pay IU JUPT 5-39 Cash Paid to Employees Northgate Publishers, Inc., reported Wage and Salary Expense of $220,000 on its 20X1 income statement. It reported cash paid to employees of $185,000 on its statement of cash flows. The beginning balance of Accrued Wages and Salaries Payable was $18,000. What was the ending balance in Accrued Wages and Salaries Payable? Ignore payroll taxes. inting Activities was $185,000 on rev-
A company recorded 2 days of accrued salaries of $1,650 for its employees on January 31. On February 9, it paid its employees $7,500 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are: Multiple Choice 1/31 1,650 Salaries Expense Salaries Payable 1.650 2/9 Salaries Payable Salaries Expense Cash 5,850 1,650 7,500 1/31 1,650 Salaries Payable Salaries Expense 1,650 2/9 Salaries...
2. Eastline Inc. at January 31, 2019, shows the following Eastline Inc Adjusted Trial Balance Partial) January 31, 2019 Credit Debit Supplies S 2,800 Prepaid Insurance 9.600 Salaries and Wages Payable Uneamed Revenue Supplies Expense 3.800 Insurance Expense Salaries and Wages Expense 7,200 Service Revenue $3,200 3,000 8,000 Instructions (20 pts) Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $3,400 of supplies was purchased...
A company recorded 2 days of accrued salaries of $1,450 for its employees on January 31. On February 9, it paid its employees $7,100 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are: Multiple Choice C) 1/ 1.450 salaries Expense Salaries Payable 1.450 12/9 salaries Expense Salarios Payable Cash 5,650 1,450 7,100 1,450 1/31 Salaries Expense Salaries Payable 1.450 2/9...
Most questions answered within 3 hours.
-
Steven can afford car payments of $300 a month for 72 months.
The bank will lend...
asked 14 minutes ago -
Embedded
System..
1.
Analyze
the instruction
sets below.
LDR R1, [R0,
#0x08]
SUB R1, R1,
R2,...
asked 18 minutes ago -
Use proper sentence structure to communicate clearly.
Choose the correct sentence structure in each of the...
asked 18 minutes ago -
There are investors who claim they only invest in companies with
great products and outstanding management,...
asked 21 minutes ago -
what is employee/ employer relations ?
why is Employee/ Employer relation is important in the context...
asked 39 minutes ago -
Explain the relationship between tests of acquisition and
payment cycle and tests of accounts payable. Give...
asked 37 minutes ago -
A hot-air balloon is descending with a velocity of (−2.00m/s)y^.
A champagne bottle is opened to...
asked 56 minutes ago -
1. When a nearsighted person looks at an object that is in the
distance with their...
asked 2 hours ago -
QUESTION 8
Both of these statements will store the same value in the
variable $number
$number...
asked 2 hours ago -
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 3 hours ago -
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 3 hours ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 4 hours ago