Websavvy has a 5-day work week and pays weekly wages in the amount of $1,750 . If December 31 falls on a Tuesday, what would be the adjusting entry to record the accrual of wages at year-end?
a. No entry required.
b. debit to Wages Expense, $700; credit to Wages Payable, $700
c. debit to Wages Payable, $350; credit to Wages Expense, $350
d. debit to Wages Expense, $350; credit to Wages Payable, $350
b
You might also like to view...
If a company follows a practice of isolating variances at the earliest point in time, what would be the appropriate time to isolate and recognize a direct material price variance?
a. When material is purchased b. When material is used in production c. When purchase order is originated d. When material is issued
Finance is:
A) The study of investment management B) The study of the stock exchange C) The study of the capital market and its many players D) The study of money management for personal use
A firm needs ________ to pay for short-term expenses such as employee salaries, advertising, marketing research, inventory storing costs, and what the firm owes suppliers.
A. working capital B. prepaid expenses C. overhead D. current assets E. debt financing
Interactivity in the retail environment is not feasible in terms of its costs.
Answer the following statement true (T) or false (F)