Use the following information to answer the two questions that follow Edith Inc.

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 payable

Explanation / 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

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