Cindi's Candies paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29-31). Employees work 5 days a week and the company pays $ \$ 700 $ a day in wages. What will be the adjusting entry to accrue wages expense at the end of January?
D) No adjusting entry is required.

Question

Quizplus · Accepted Answer

The adjusting entry to accrue wages expense at the end of January will be:
Wages Expense  = $ [ (3 days \times 700 dollars/day) ] $ = $2,100
Wages Payable  = $ [ (3 days \times 700 dollars/day) ] $ = $2,100
Therefore, the adjusting entry should be:
Wages Expense 2,100
Wages Payable  2,100

Cindi's Candies Paid Employee Wages on and Through Friday, January $700 \$ 700 $700

Cindi's Candies Paid Employee Wages on and Through Friday, January $\$ 700$