Use the following information to answer the two questions that follow Edith Inc.
ID: 2391461 • Letter: U
Question
Use the following information to answer the two questions that follow Edith Inc. paid employees for a month's work. 10. The journal entry would include a debit to which account? a. Retained carnings b. Revenue c. Salaries payable d. Salary expense e. Cash 11. The journal entry would include a credit to which account? a. Retained carnings b. Revenue c. Salaries payable d. Salary expense e. Cash Use the following information to answer the two questions that follow Fred Company declared and paid a cash dividend to its stockholders. 12. The journal entry would include a debit to which account? a. Revenue c. Common stock d. Cash c. Accounts payable 13. The journal entry would include a credit to which account? a. Revenue b. Dividends c. Common stock d. Cash c. Accounts payableExplanation / Answer
Answer:
10. d. Salary expense
11. e. Cash
Working : Edith Inc. paid employees for a month's work
12. b. Dividends
13. d. cash
Working: Fred Co. Declared and paid dividends
Date Accounts Debit Credit Salary expense. Dr. To Cash