Blankenship company pays its employees every friday

Blankenship Company pays its employees every Friday for work rendered that week. The payroll is
typically $10,000 per week. What journal entry would be recorded (on Wednesday) if the end of the
accounting period occurred on a Wednesday?
o
Salary Expense
6,000
Salary Payable
6,000
o
Salary Expense
6,000

Cash
6,000
o
Salary Payable
6,000
Cash
6,000
o
Salary Payable
6,000

Salary Expense
6,000
CORRECT
5. 5. Question
Blankenship Company pays its employees every Friday for work rendered that week. The payroll is
typically $10,000 per week. Blankenship’s year-end occurred on Wednesday, at which time a correct
adjusting entry was recorded. On the following Friday, which of the following payroll journal entries should
be recorded?

CORRECT
6. 6. Question
The appropriate journal entry to record equipment depreciation expense would consist of a debit to
Depreciation Expense and a credit to which of the following accounts?
7. 7. Question
At the end of the current accounting period, Johnson Company failed to record utilities consumed during
the period. Johnson will be billed for the utilities during the next accounting period. As a result, current
period assets, liabilities, equity, and income, respectively, are:

CORRECT
8.