Multiple Choice Question 53

Watunga County Bank agrees to lend Concord Granite Company $593000 on January 1. Concord Granite Company signs a $593000, 8%, 9-month note. What is the adjusting entry required if Concord Granite Company prepares financial statements on June 30?

A:Interest Payable 23720Cash23720

B:Interest Expense 23720Interest Payable23720

C:Interest Payable 23720Interest Expense23720

D:Interest Expense 23720Cash23720

Multiple Choice Question 119

Sarah Jones's regular rate of pay is $26 per hour with one and one-half times her regular rate for any hours which exceed 40 hours per week. She worked 49 hours last week. Therefore, her gross wages were

A:$1274.

B:$1040.

D:$1391.

C:$1911

Multiple Choice Question 128

The following totals for the month of April were taken from the payroll register of Oriole Company.

Salaries and wages$71800

FICA taxes with held 5503

income taxes with held 14000

Medical insurance deductions 2710

Federal unemployment taxes 200

State unemployment taxes 1300

The entry to record the payment of net payroll would include a

A:debit to Salaries and Wages Payable for $48087.

B:debit to Salaries and Wages Payable for $44084.

C:debit to Salaries and Wages Payable for $49587.

D:credit to Cash for $55090