Magnolia Tree Service has a weekly payroll of $50,000. December 31, 2016 falls on Thursday and Magnolia will pay its employees the following Monday (January 4, 2017 ) for the previous full week
Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $845,000. Prepare the December 31, 2016 adjusting entry.
What will be an ideal response
Salaries Expense 40,000
Salaries Payable 40,000
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Which of the following is a breach of fiduciary duty?
A) A broker recommends to his client that he buy shares of a company without telling the client that he (the broker) is being paid by the company to promote it. B) A broker recommends to his client that he buy shares of a company without telling the client that he (the broker) owns shares in that company. C) A broker recommends to his client that he use a particular lending institution to finance the purchase without telling the client that he (the broker) gets referrals from the institution in return. D) Both A and B E) All of the above