Anthony Delivery Service has a weekly payroll of $34,000.December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6)for the previous full week.Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $925,000 at December 31.What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted?
A) $925,000
B) $959,000
C) $945,400
D) $938,600

Question

Quizplus · Accepted Answer

D) Salaries Expense: $925,000 + ($34,000 / 5 × 2 days ) = $938,600

Anthony Delivery Service Has a Weekly Payroll of $34,000