Solved

Fitzpatrick Company Had $500 of Accrued Salary Expenses That Will Salaries Expense 500\begin{array}{cc}\text {Salaries Expense }\\\hline\begin{array}{ll|l}&500& \\\end{array}\end{array}

Question 8

Multiple Choice

Fitzpatrick Company had $500 of accrued salary expenses that will be paid during the following accounting period.How would the related adjusting entry be recorded in the company's T-accounts?


A) Salaries Expense 500\begin{array}{cc}\text {Salaries Expense }\\\hline\begin{array}{ll|l}&500& \\\end{array}\end{array}
Cash 500\begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}&&500 \\\end{array}\end{array}
B) Cash 500\begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}&500 \\\end{array}\end{array}
Salaries Expense 500\begin{array}{cc}\text {Salaries Expense }\\\hline\begin{array}{ll|l}&&500& \\\end{array}\end{array}
C) Salaries Expense 500\begin{array}{cc}\text {Salaries Expense }\\\hline\begin{array}{ll|l}&500& \\\end{array}\end{array}
Salaries Payable 500\begin{array}{cc}\text {Salaries Payable }\\\hline\begin{array}{ll|l}&&500 \\\end{array}\end{array}
D) Salaries Payable 500\begin{array}{cc}\text {Salaries Payable }\\\hline\begin{array}{ll|l}&500 \\\end{array}\end{array}
Salaries Expense 500\begin{array}{cc}\text {Salaries Expense }\\\hline\begin{array}{ll|l}&&500& \\\end{array}\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents