The adjusting entry to accrue salary expense: Select one: Debits Salaries Payable and credits Cash O Debits Salary Expense and credits Salary Payable O Debits Salaries Payable and credits Salary Expense O Debits Salary Expense and credits Cash

Q: E12.10 (b)

A: Total issued and outstanding shares = 95000+25000+2000 = 122,000 shares Dividend declared on dec. 15…

Q: Which of the following orders allows for partial execution?

A: FOK (Fill or Kill Order): This type of order allows being executed immediately at the specified…

Q: please explain 120/360

A: Solution: Interest amount is computed using formula = Principal * Interest rate * time Where time is…

Q: section 1231 summary

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: Which of the following GRI standards is topic-specific related? O GRI 102 O GRI 200 O GRI 103 GRI…

A: GRI Standards is one of the modular system that is being used. It contains three series of standards…

Q: E15.11

A: As posted multiple sub parts questions we are answering only first three sub parts kindly repost the…

Q: 1,352,113.13 is incorrect. What is the correct answer?

A: Net Present Value is used to evaluate the investment and financing decisions that involve cash flows…

Q: E11.5

A: Face value of bonds outstanding on December 31, 2020 = Total Beginning Balance of Bonds Payable -…

Q: Explanation 1031 like-kind exchange

A:

Q: What would the entry be for the letter H.?

A:

Q: whats 1100+90

A: The question was a simple arithmetic problem that required adding two numbers together. In this…

Q: What is AAA (Section 1368(e))

A: The S corporation is a corporation that chooses to pass all income, losses, deductions, and all…

Q: please answer question 26

A:

Q: nkkkk

A: We can decide upon the better choice of loan by computing the future value of both the loans. Lower…

Q: The answer is somewhat close. The right answer is 1.5337 Please clarify

A: Stock price is $50 Strike price is $52 Risk free rate is 1% Time period is 3 months To Find: Value…

Q: 17. What are the key features of ERISA?

A: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal statute that provides basic…

Q: E10.2

A: Interest accrued on June 30 = Face value of note x rate of interest  x No. of months /12 = $90,000 x…

Q: So the answer is  1394 or2450?

A: The deductible business expenses are the expenses which are incurred for business. If the expenses…

Q: Answer to Part C = 42250

A: Given, Maturity =10 Years Market interest rate: 6% Stated interest rate = 5%   Price of the bond is…

Q: Describe about the NOL.

A: NOL means Net Operating Loss. This is a situation when company's deductions are more than it's…

Q: ou put 491-28 why is it 28 and not - 175?? Can you explain that please?

A: Most of the credit card companies compute their finance charges based on average daily balance.…

Q: was due inancial State nc. should report

A:

Q: E11.4

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise…

Q: Please describe a scenario that is modeled by the following scenario: .0574 (12-18) 1+ 12 385 145130…

A: The scenario represented using the given computation is the future value of the annuity.

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.