Buster Industries 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 Tuesday is a. debit Salaries Payable, $12,000; credit Cash, $12,000 b. debit Salary Expense, $12,000; credit Dividends, $12,000 C. debit Dividends, $12,000; credit Cash, $12,000 d. debit Salary Expense, $12,000; credit Salaries Payable, $12,000

The correct answer is D

Explanation:

The journal entry to be recorded for the salary is as:

Salary expense A/cDr   $12,000

     Salary Payable A/cCr   $12,000

Being the salary which is paid weekly, become accrued

Working Note:

Single day amount = Weekly payment / Number of days

= $30,000 / 5

= $6,000 per day

So, computing for 2 days (Monday and Tuesday) salary as:

Amount = Per day salary × Number of days

= $6,000 × 2

= $12,000

i would go with get a bachelor’s degree

hope i

-lavira : )

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.