Flagg records adjusting entries at its December 31 year-end. At December 31, employees had earned $10,000 of unpaid and unrecorded salaries. The next payday is January 3, at which time $25,000 will be paid. Prepare the January 1 journal entry to reverse the effect of the December 31 salary expense accrual.

Answer and Explanation:

The journal entry that are required to reverse the impact is shown below:

Salaries payable $10,000

         To Salaries expense $10,000

(Being the reversal of impact is recorded)

Here the salaries payable is debited  as it decreased the liabilities and on the other hand the salaries expense is credited as it decreased the expenses

The same is to be considered

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1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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