A company pays its employees $1,600 each Friday, which amounts to $320 per day for the five-day workweek that begins on Monday. If the monthly accounting period ends on Thursday and the employees worked through Thursday, the amount of salaries earned but unpaid at the end of the accounting period is:

The description of the relation between a company’s assets, liabilities, and equity, which is expressed as Assets = Liabilities + Equity, is known as the:

The adjusting entry at the end of an accounting period to record the unpaid salaries of employees for work provided is:

A financial statement providing information that helps users understand a company's financial status, and which lists the types and amounts of assets, liabilities, and equity as of a specific date, is called a:

Prior to recording adjusting entries, the Office Supplies account had a $361 debit balance. A physical count of the supplies showed $106 of unused supplies available. The required adjusting entry is:

Edison Consulting received a $430 utilities bill and immediately paid it. Edison's general journal entry to record this transaction will include a:

Central Corporation had the following accounts and balances at December 31:

Using the information in the table, calculate the company's reported net income for the period.

The right side of a T-account is a

If a company receives $13,500 from the owner to establish a proprietorship, the effect on the accounting equation would be:

Unearned revenue is reported in the financial statements as: