On October 5", Muscat Company hires four new employees to begin work on October 15. Each employee is to receive a weekly salary of OMR 1,000 for a 5-days work week, payable every 2 weeks- first payment made on October 26. the company should make the following entry.: Select one: O a. Insurance Expense . 6,000 Prepaid Insurance 6,000 O b. Salary Expense . 4,000 Cash 4,000 O . None of the answers are correct d. No entry is required. O e. Insurance Expense 8,000 Cash. 8,000

On October 5", Muscat Company hires four new employees to begin work on October 15. Each employee is to receive a weekly salary of OMR 1,000 for a 5-days work week, payable every 2 weeks- first payment made on October 26. the company should make the following entry.: Select one: O a. Insurance Expense . 6,000 Prepaid Insurance 6,000 O b. Salary Expense . 4,000 Cash 4,000 O . None of the answers are correct d. No entry is required. O e. Insurance Expense 8,000 Cash. 8,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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