The employees of Lucid Laboratories are paid every two weeks on Friday for a Monday through Friday work week. Total payroll is $18,000 and covers 10 workdays. The end of the current month falls on the second Tuesday of the pay period. What is the adjusting journal entry to accrue payroll at the end of the month?
A) $\begin{array}{lrr}
\text { Salaries Expense } &5,400\
\text { Salaries Payable} &&5,400\
\end{array}$

B) $\begin{array}{lrr}
\text { Prepaid Salaries } &5,400\
\text { Salaries Payable} &&5,400\
\end{array}$

C) $$\begin{array} { l r r }
\text { Salaries Expense } & 12,600 & \
\text { Prepaid Salaries } & 5,400 & \
\quad \text { Salaries Payable } & & 18,000
\end{array}$$
D) $\begin{array}{lrr}
\text { Salaries Expense } &12,600\
\text { Salaries Payable} &&12,600\
\end{array}$

Question

The employees of Lucid Laboratories are paid every two weeks on Friday for a Monday through Friday work week. Total payroll is $18,000 and covers 10 workdays. The end of the current month falls on the second Tuesday of the pay period. What is the adjusting journal entry to accrue payroll at the end of the month?
A) $\begin{array}{lrr}
  \text {  Salaries Expense } &5,400\
 \text {  Salaries Payable} &&5,400\
\end{array}$

B) $\begin{array}{lrr}
  \text {  Prepaid Salaries } &5,400\
 \text {  Salaries Payable} &&5,400\
\end{array}$

C) $$\begin{array} { l r r } 
\text { Salaries Expense } & 12,600 & \
\text { Prepaid Salaries } & 5,400 & \
\quad \text { Salaries Payable } & & 18,000
\end{array}$$
D) $\begin{array}{lrr}
  \text {  Salaries Expense } &12,600\
 \text {  Salaries Payable} &&12,600\
\end{array}$

Quizplus · Accepted Answer

The Answer of The employees of Lucid Laboratories are paid every two weeks on Friday for a Monday through Friday work week. Total payroll is $18,000 and covers 10 workdays. The end of the current month falls on the second Tuesday of the pay period. What is the adjusting journal entry to accrue payroll at the end of the month?
A) $\begin{array}{lrr}
  \text {  Salaries Expense } &5,400\
 \text {  Salaries Payable} &&5,400\
\end{array}$

B) $\begin{array}{lrr}
  \text {  Prepaid Salaries } &5,400\
 \text {  Salaries Payable} &&5,400\
\end{array}$

C) $$\begin{array} { l r r } 
\text { Salaries Expense } & 12,600 & \
\text { Prepaid Salaries } & 5,400 & \
\quad \text { Salaries Payable } & & 18,000
\end{array}$$
D) $\begin{array}{lrr}
  \text {  Salaries Expense } &12,600\
 \text {  Salaries Payable} &&12,600\
\end{array}$

The Employees of Lucid Laboratories Are Paid Every Two Weeks Salaries Expense 5,400 Salaries Payable5,400\begin{array}{lrr} \text { Salaries Expense } &5,400\\ \text { Salaries Payable} &&5,400\\\end{array} Salaries Expense Salaries Payable​5,400​5,400​

The Employees of Lucid Laboratories Are Paid Every Two Weeks $\begin{array}{lrr} \text { Salaries Expense } &5,400\\ \text { Salaries Payable} &&5,400\\\end{array}$