Question: If salaries payable increases during the year, why does this imply that salary expense exceeds salary payments?

If salaries payable increases during the year, why does this imply that salary expense exceeds salary payments?

Step by Step Solution

★★★★★

3.27 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

An increase in salaries payable implies that salar... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

396-B-M-A-S-C-F (2937).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

Electronic Superstores inventory increases during the year by $5 million, and its accounts payable to suppliers increases by $7 million during the same period. What is the amount of cash paid to...

Q:

If two variables are highly correlated, does this imply that changes in one cause changes in the other? If not, give at least one example from the real world that illustrates what else could cause a...

Q:

Why does a lower strike price imply that a call option will have a higher premium and a put option a lower premium?

Q:

epare Mike's Bike Shop has the following chart of accounts: Assets Revenue 111 Cash 411 Sales 113 Accounts Receivable (A/R) 412 Sales Returns and Allowances 114 Allowance for Doubtful Accounts 413...

Q:

When a company recognizes accrued salaries expense, Blank _ _ _ _ _ _ . Multiple choice question. cash increases and salaries payable decreases cash and salaries payable increase salaries payable and...

Q:

When a company recognizes accrued salaries expense, Blank _ _ _ _ _ _ . Multiple choice question. cash increases and salaries payable decreases cash and salaries payable increase salaries payable and...

Q:

In good form, complete the needed journal entries (appendix 2). If no journal entry is required, write down "no entry needed". July 31 will be assumed for all dates Appendix 1 Hanson Computers Trial...

Q:

Using the Adjusted Trial Balance, prepare a Multi-step income statement and Balance Sheet in good form (suggested time to spend on this, 40 minutes) Appendix 1 Hanson Computers Trial Balance As at...

Q:

Post" the journal entries to get an Adjusted Trial Balance (Appendix 1) (suggested time to spend on this. 5 minutes) Appendix 1 Hanson Computers Trial Balance As at July 31 Account name DR CR Cash...

Q:

Do you believe obtaining a Canadian certification / affiliation of any sort will help you better prepare for the jobs being advertised? For example, there are different professional organizations...

Q:

Lasorda Company earns 9% on an investment that will return $875,000 8 years from now. What is the amount Lasorda should invest now in order to earn this rate of return?

Q:

Critique the various exchanges of promises that are legally regarded as acceptable consideration. Your analysis should concentrate on whether each type of consideration facilitates or hinders the...

Q:

1 pts The problem of adverse selection helps to explain which firms are more libely to obtain funds from banks and cever fraxcial heernedaries, rater tun from wocrbes markets. why collaterni is an...

Q:

Plot the data listed in the table below. a. Measure price along the vertical axis and quantity along the horizontal axis and plot the first two columns. b. Show what quantity is sold when the price...

Q:

Indicate in general journal form how the items below would be entered in a worksheet for the preparation of the statement of cash flows. (a) Net income is $317,000. (b) Cash dividends declared and...

Q:

Access the glossary (Master Glossary) to answer the following. (a) What are cash equivalents? (b) What are financing activities? (c) What are investing activities? (d) What are operating activities?

Q:

Name five cash inflows that would qualify as a Financing Activity.

Q:

HW Score: 75%, 9 of 12 points Homework: 3.6 Hom... Question 10, 3.6.21-BE Part 1 of 8 O Points: 0 of 1 Save Recall that if the cost of producing x units is C(x), then the average cost function is...

Q:

13. Starbucks opened its first store in Zagreb, Croatia in October 2018. In Zagreb, the price of a tall vanilla latte is 28.50 kn. In New York City, the price of a tall vanilla latte is $3.65. The...

Q:

Explain how you could use the random number table shown below to simulate rolling a fairsix-sided die. Assume you are interested in the probability of rolling a 2. b. Using the random number...