Abusiness pays weekly salaries of $30,000 on friday for a five-day week ending on that day. the adjusting entry necessary at the end of the fiscal period ending on a thursday is

a business pays weekly salaries of $30,000 on frid

debit salaries and wages expense, $24,000; credit salaries and wages payable, $24,000.

debit salaries and wages expense, $6,000; credit salaries and wages payable, $6,000.

debit salaries and wages payable, $24,000; credit cash, $24,000.

debit salaries and wages expense, $24,000; credit cash, $24,000

Arecession is defined as a period in which

Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $360,000; cash paid for rent, $44,000; cash paid to employees for services rendered during the year, $124,000; cash paid for utilities, $54,000.in addition, you determine that customers owed the company $64,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,400 at year-end, and the rent payment was for a two-year period.calculate accrual net income for the year.