Multiple Choice
The journal entry to record payroll:
A) debits salary expense and credits salary payable for the net pay.
B) debits salary expense and credits salary payable for the gross pay.
C) debits salary expense for the gross pay and credits salary payable for the net pay.
D) debits salary expense for the net pay and credits salary payable for the gross pay.
Correct Answer:
Verified
Correct Answer:
Verified
Q20: Details about a company's liabilities should be
Q62: If bonds are issued at a premium
Q80: On January 1, Right Way Corporation issues
Q81: Unearned revenue is reported on the balance
Q83: The estimating of warranty expense when a
Q86: On January 1, 2012, Kensington Valley Company
Q87: A company has a probable contingent gain
Q89: The primary reason a company will retire
Q90: A lower times-interest-earned ratio indicates the ease
Q117: The stated interest rate is always equal