A company pays its employees every Friday. Employees work 5 days a week, Monday through Friday. The accounting period ends on Wednesday, August 31, 2025. If weekly salaries are $9,000, what is the adjusting entry for accrued salaries at month-end?

On Friday 26 January Snell Tables paid employee wages up to the end of that day. The next payroll will be paid in February. There are three more working days in January (29–31). Employees work 5 days a week and the business pays $800 a day in wages. The adjusting entry to accrue wages expense at the end of January is:

Jane Richards, CPA, has invoiced her clients for services performed. She subsequently receives payments from her clients. What entry will she make upon receipt of payment?

An adjusting entry typically:

Which statement best describes the purpose of the Allowance for Doubtful Debts account?

A company’s accounts receivable balance is $50,000, and it estimates that 4% will be uncollectable. What is the required balance in the Allowance for Doubtful Debts account?

Gorman Ltd uses the allowance method. At 30 June, Accounts receivable balance is $50,000 and the Allowance for Doubtful Debts has a debit balance of $1,800. A debtor was declared bankrupt and the $1,200 owed was written off. Gorman subsequently received notification from liquidators that 25 cents in the dollar would be repaid for all debts owed by Gorman Ltd. The adjusting entry to reinstate the debt would be: 

At 31 December 2024, before any year-end adjustments, Hart Company's Insurance expense account had a balance of $725 and its Prepaid Insurance account had a balance of $1,900. It was determined that $1,500 of the Prepaid Insurance had expired. The adjusted balance for Prepaid Insurance for the year would be:

A consulting firm receives $30,000 advance payment on September 1 for six months of consulting services that they recorded as a liability. By December 31, what is the adjusting entry regarding unearned revenue?