H Ltd pays salaries each Friday afternoon to cover the previous five working days (up to and including Friday).The weekly wages bill is $500 000.The end of the accounting period falls on a Monday.The adjusting journal entry will be:
A. DR Wages expense $\$ 50000$$\quad $ $\quad $ CR Accrued wages $\$ 50000$

B. DR Wages expense $\$ 100000$$\quad $ $\quad $ CR Accrued wages $\$ 100000$

C. DR Accrued wages $\$ 50000$$\quad $ $\quad $ CR Wages expense $\$ 50000$

D. DR Wages expense $\$ 400000$$\quad $ $\quad $ CR Accrued wages $\$ 400000$

Question

H Ltd pays salaries each Friday afternoon to cover the previous five working days (up to and including Friday).The weekly wages bill is $500 000.The end of the accounting period falls on a Monday.The adjusting journal entry will be:
A. DR Wages expense $\$ 50000$$\quad $ $\quad $  CR Accrued wages $\$ 50000$

B. DR Wages expense $\$ 100000$$\quad $ $\quad $  CR Accrued wages $\$ 100000$

C. DR Accrued wages $\$ 50000$$\quad $ $\quad $  CR Wages expense $\$ 50000$

D. DR Wages expense $\$ 400000$$\quad $ $\quad $  CR Accrued wages $\$ 400000$

Quizplus · Accepted Answer

The Answer of H Ltd pays salaries each Friday afternoon to cover the previous five working days (up to and including Friday).The weekly wages bill is $500 000.The end of the accounting period falls on a Monday.The adjusting journal entry will be:
A. DR Wages expense $\$ 50000$$\quad $ $\quad $  CR Accrued wages $\$ 50000$

B. DR Wages expense $\$ 100000$$\quad $ $\quad $  CR Accrued wages $\$ 100000$

C. DR Accrued wages $\$ 50000$$\quad $ $\quad $  CR Wages expense $\$ 50000$

D. DR Wages expense $\$ 400000$$\quad $ $\quad $  CR Accrued wages $\$ 400000$

H Ltd Pays Salaries Each Friday Afternoon to Cover the Previous