16. A company pays its two employees every Friday $500 each for a five-day workweek that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry is: A) Debit Unpaid Salaries $600 and credit Salaries Payable $600. B) Debit Salaries Expense $400 and credit Cash $400. C) Debit Salaries Expense $600 and credit Salaries Payable $600. D) Debit Salaries Expense $200 and credit Salaries Payable $200. E) Debit Salaries Expense $400 and credit Salaries Payable $400.

Over the past several years, joyce chen has been able to save regularly. as a result, today she has $54,188 in savings and investments. she wants to establish her own business in 5 years and feels she will need $100,000 to do so. a. if she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in 5 years? will joyce have the $100,000 she needs? if not, how much more money will she need? b. given your answer to part a, how much will joyce have to save each year over the next 5 years to accumulate the additional money? assume she can earn interest at a rate of 6%. c. if joyce can afford to save only $4,000 a year then, given your answer to part a, will she have the $100,000 she needs to start her own business in 5 years?