Assume that the weekly payroll of Make minus Upper U minus Glow Tanning Salon is $ 390. December 31, end of the year, falls on Tuesday, and Make minus Upper U minus Glow will pay its employee on Friday for the full week. What adjusting entry will Make minus Upper U minus Glow make on Tuesday, December 31? (Use five days as a full workweek.) Date Accounts and Explanation Debit Credit A. Salaries Expense 156 Salaries Payable 156 B. Salaries Payable 390 Salaries Expense 390 C. Salaries Expense 156 Cash 156 D. No adjustment is needed because the company will pay the payroll on Friday.

Ann and jack have been partners for several years. their​ firm, a​ & j tax​ preparation, has been very​ successful, as the pair agree on most​ business-related questions. one​ disagreement, however, concerns the legal form of their business. for the past two​ years, ann has tried to convince jack to incorporate. she believes that there is no downside to incorporating and sees only benefits. jack strongly​ disagrees; he thinks that the business should remain a partnership forever. ​ first, take​ ann's side, and explain the positive side to incorporating the business. ​ next, take​ jack's side, and state the advantages to remaining a partnership. ​ lastly, what information would you want if you were asked to make the decision for ann and​ jack? which of the following statements are the advantages of a partnership compared to a​ corporation? ​(choose all that​ apply.) a. less expensive to organize. b. ownership is readily transferable. c. lower income taxes. d. owners have limited liability. e. long life of firm.