On December 31, 2016, Zeal Company had accrued salaries of $12,000. Required a. Record in general journal

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On December 31, 2016, Zeal Company had accrued salaries of $12,000.
Required
a. Record in general journal format the adjustment required as of December 31, 2016.
b. Record the above adjustment in a horizontal statements model like the following one:
On December 31, 2016, Zeal Company had accrued salaries of

c. Determine the amount of net income Zeal would report on the 2016 income statement, assuming that Zeal received $29,000 of cash revenue. What is the amount of net cash flow from operating activities for 2016?
d. What amount of salaries payable would Zeal report on the December 31, 2016, balance sheet?

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Related Book For  book-img-for-question

Fundamental Financial Accounting Concepts

ISBN: 978-0078025907

9th edition

Authors: Thomas Edmonds, Christopher Edmonds

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