Mt.Zion Inc.pays its employees twice a month, on the 7th and the 21st.On June 21, Mt.Zion Inc.paid employee salaries of $5,000.This transaction would
A) increase stockholders' equity by $5,000.
B) decrease the balance in Salaries and Wages Expense by $5,000.
C) decrease net income for the month by $5,000.
D) be recorded by a $5,000 debit to Salaries and Wages Payable and a $4,000 credit to Salaries and Wages Expense.
Correct Answer:
Verified
Q20: TNT Company has the following transactions during
Q21: The dividends account is a subdivision of
Q22: The number and types of accounts used
Q23: An account consists of
A)a title, a debit
Q24: For the basic accounting equation to stay
Q26: Evidence that would not help with determining
Q27: The ledger should be arranged in
A)alphabetical order.
B)chronological
Q28: Posting
A)should be performed in account number order.
B)accumulates
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