Question 2 The Boulevard Coffee Roasting Co pays its employees twice a month, on the 15th and the 30th. On August 15, the Boulevard paid employee salaries of $15,000. This transaction would O be recorded by a $25,000 debit to Salaries and Wages Expense O increase net income for the month by $15,000 O decrease stockholders' equity by $15,000 O decrease the balance in Salaries and Wages expense by $15,000 Question 3 Walmart reported the following balances at December 31: Sales Revenue $82,000 Sales Returns and Allowances $675 Sales Discounts $2,450 Cost of Goods Sold $48,950 Net sales revenue for the month is O $82,000 O $78,875 O $29,925 O $81,325
Question 2 The Boulevard Coffee Roasting Co pays its employees twice a month, on the 15th and the 30th. On August 15, the Boulevard paid employee salaries of $15,000. This transaction would O be recorded by a $25,000 debit to Salaries and Wages Expense O increase net income for the month by $15,000 O decrease stockholders' equity by $15,000 O decrease the balance in Salaries and Wages expense by $15,000 Question 3 Walmart reported the following balances at December 31: Sales Revenue $82,000 Sales Returns and Allowances $675 Sales Discounts $2,450 Cost of Goods Sold $48,950 Net sales revenue for the month is O $82,000 O $78,875 O $29,925 O $81,325
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter8: Payroll Accounting: Employee Earnings And Deductions
Section: Chapter Questions
Problem 1CE
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