A company pays wages every two weeks.Wages amount to $100 a day,7 days a week.On March 31,the company pays wages for the two weeks ending March 24.At the end of the month,the related adjusting journal entry will include a
A) debit to Wages Payable for $1,400 and a credit to Wages Expense for $1,400.
B) debit to Wage Expense for $700 and a credit to Wages Payable for $700.
C) debit to Wages Payable for $700 and a credit to Cash for $700.
D) debit to Wages Expense for $1,400 and a credit to Wages Payable for $1,400.
Correct Answer:
Verified
Q43: To calculate the company's income tax expense
Q44: A company has an asset account,Prepaid Insurance,with
Q45: Recording an adjusting journal entry to recognize
Q46: Declared dividends:
A)are an expense of doing business.
B)are
Q47: A count of supplies revealed $400 worth
Q49: Contra-accounts:
A)are used to increase the original value
Q50: Purrfect Pets had $6,000 of supplies at
Q51: During the month,a company uses up $4,000
Q52: A company has a loan that accrues
Q53: At the end of the year,accrual adjusting
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents