1. If an adjusting entry was made to record the December unpaid portion of salar

Question

1.         If an adjusting entry was made to record the December unpaid portion of salaries expense of $770, the reversing entry would be

a.   debit salaries expense and credit salaries payable

b.   debit salaries expense and credit income summary

c.   debit salaries payable and credit salaries expense

d.   debit income summary and credit salaries expense

2.       A reversing entry could be used for

a.   adjusting entries for salaries payable            b.         adjusting entries for prepaid insurance

c.   adjusting entries for unrecorded revenue      d.         adjusting entries for unearned revenue

Explanation / Answer

1. The correct answer is:

a.   debit salaries expense and credit salaries payable

The Journal would be

Salaries Expense Account $ 770

Salaries Payable Account $ 770

2.

The correct answer is:

a.   adjusting entries for salaries payable

Note :

The reversing entry would be:

Salaries Payable Account

Salaries Expense Account

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