BeachLife Corporation pays salaries of $30,000 to its employees. No accrual has been made for this amount. What is the financial impact of this transaction? Increase Decrease ___________________________________________________________________________
a. Salary Expense Cash
b. Salary Expense Salary Payable
c. Salary Payable Salary Expense
d. Cash Salary Payable
e. Prepaid Salary Cash
Answer: a. Salary Expense Cash
Business
You might also like to view...
Which one of the following is a plan that will allow a manufacturing firm to satisfy its sales goals and have on hand the desired amount of inventory at the end of the budget period?
What will be an ideal response?
Business
A budget is useful for:
a. Measuring your performance b. Warning you when to take corrective action c. Helping you recognize resource restraints d. All of the above
Business