A company incurred $5,000 in wages for employees for the year.Of these wages,$4,500 was paid by the end of the year.Which of the following statements is correct?
A) Salaries and Wages Payable on the income statement will be $4,500.
B) Salaries and Wages Expense on the income statement will be $500.
C) Salaries and Wages Expense on the balance sheet will be $5,000.
D) Salaries and Wages Payable on the balance sheet will be $500.
Correct Answer:
Verified
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