Ask Question
29 March, 10:10

On December 31, Year 3 Snack, Inc. adjusted its records to recognize $5,000 of accrued salaries. Based on this information alone.

A. the balance sheet at the beginning of Year 4 would show $5,000 of accrued salaries expense.

B. the balance sheet at the beginning of Year 4 would show $5,000 of accrued salaries payable.

C. the income statement for Year 3 would show $5,000 of accrued salaries payable.

D. the income statement for Year 4 would show $5,000 of accrued salaries expense.

+1
Answers (1)
  1. 29 March, 13:07
    0
    B. the balance sheet at the beginning of Year 4 would show $5,000 of accrued salaries payable.

    Explanation:

    The adjusting entry to record the accrued salaries as at December 31, Year 3 of the Snack, Ince. are as follows:

    Debit Credit

    Accrued salaries expense $5,000

    Accrued salaries payable $5,000

    Based on the above discussion, the answer shall be B. the balance sheet at the beginning of Year 4 would show $5,000 of accrued salaries payable.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On December 31, Year 3 Snack, Inc. adjusted its records to recognize $5,000 of accrued salaries. Based on this information alone. A. the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers