Certified Electronics operates five days per week with a daily payroll of $40,000. Employees are paid every Saturday for the work week just completed (Monday through Friday). The last day of the month is Wednesday, May 31. The correct adjusting entry at May 31 is
A. Wages Expense 40,000
Wages Payable 40,000
B. Wages Payable 40,000
Cash 40,000
C. Wages Expense 120,000
Cash 120,000
D. Wages Expense 120,000
Wages Payable 120,000
Answer: D
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Salima became a Certified Public Accountant in 2002. After working as a staff auditor and accountant for other companies, she was hired as an auditor by Moore Corp. in 2003. When she was hired, there were four male auditors in her area who had been with the company for several years and were classified as senior auditors. In 2004, Salima complained that she was receiving the same salary as a new male senior auditor, Rashid, even though she was doing the same work. When Rashid was brought in, Moore Corp. was in the process of divestiture and its policy was to fill positions with lateral transfers from other areas because of a promotion and hiring freeze. In 2005, Salima filed a complaint with the Equal Employment Opportunity Commission (EEOC) claiming that she was not being paid equally
for equal work. Did Moore Corp. violate the Equal Pay Act by paying Salima less than the male accountants? What will be an ideal response?
Which of the following is NOT true of a good research objective?
A) It specifies from whom information will be gathered. B) It specifies what information (construct) is needed. C) It should specify the unit of measurement used to gather the information. D) It should word questions used to gather the information in the respondents' frame of reference. E) It should word questions used to gather the information in the researchers' frame of reference.
Withdrawals decrease owner's equity and are listed on the income statement as a deduction from revenue
Indicate whether the statement is true or false
Which is the best approach to pricing after-sales service?
a. auction b. uniform pricing based on a fixed percentage of the sales price of the equipment c. negotiate a custom service contract for each customer d. price service contracts according to service requirements of different customer segments e. none of the above