25.  On December 31, Bathala Company correctly made an adjusting entry to recognize P4,000 of accrued salaries payable.  On January 8 of the following year, total salaries of P6,800 were paid.  Assuming the correct reversing entry was made on January 1, the entry on January 8 will result in a credit to Cash P6,800, and the following debit(s):*a. Salaries Expense P6,800b. Salaries Payable P6,800Salaries Payable P2,800 and Salaries Expense P4,000d. Salaries Payable P4,000 and Salaries Expense P2,800

Mr. A received the following from his employer during the current taxable year: Monthly basic salary, P45,000 Monthly representation and travelling allowance not subject to liquidation, P10,0005% commission on net sales. Sales during the year were P6,300,000; sales return, P250,000 13th month pay, Christmas bonus and productivity pay amounting to 120% of his basic salary The gross taxable compensation income of Mr. A for the current taxable year is:Select one:a.P1,016,500b.P986,500c.P962,500d.P841,500

Kayamoto received P60,000 advance payment of his fee in January.  In February, ½ of the amount is already earned, and ¼ earned in March and ¼ is to be returned to the customer because it could no longer be earned.  How much is the correct revenue?Group of answer choicesP60,000 total earnings January to March in either accrual or cash basisP60,000 in January under accrual basisP15,000 in March under accrual basisP45,000 in February under cash basis

The adjusting entry for accrued salaries*a. debit salaries expense and credit cashb. debit salaries payable and credit cashc. debit salaries expense and credit salaries payabled. debit salaries payable and credit salaries expense

Q 18. The partners of a firm distributed the profits for the year ended 31st March, 2019, ₹90,000 in theratio of 3:2:1 without providing for the following adjustments:(i) A and B were entitled to a salary of 1,500 each per annum.(ii) B was entitled to a commission of 4,500.(iii) B and C had guaranteed a minimum profit of 35,000 p.a. to A.(iv) Profits were to be shared in the ratio of 3:3:2.Pass necessary journal entry for the above adjustments in the boo

Valley Spa purchased $10,500 in plumbing components from Tubman Company. Valley Spa signed a 60-day, 12% promissory note for $10,500. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry made by Tubman to record the dishonored note? (Use 360 days a year.)Multiple ChoiceDebit Accounts Receivable—Valley Spa $10,500; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710; debit Bad Debt Expense $210; credit Notes Receivable $10,500.Debit Accounts Receivable—Valley Spa $10,710, credit Interest Revenue $210; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,500; credit Notes Receivable $10,500.Debit Bad Debt Expense $10,710; credit Accounts Receivable—Valley Spa $10,710.