menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    College Accounting
  4. Exam
    Exam 13: Completion of the Accounting Cycle for a Merchandising Company
  5. Question
    The Closing Entry for the $700 Balance of Wages Expense
Solved

The Closing Entry for the $700 Balance of Wages Expense

Question 97

Question 97

Multiple Choice

The closing entry for the $700 balance of Wages Expense includes


A) a credit to Income Summary for $700.
B) a debit to Income Summary for $700.
C) a debit to Wages Expense for $700.
D) a credit to Wages Payable for $700.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q92: The post-closing trial balance is prepared from<br>A)

Q92: Reversing entries are done when assets or

Q93: An item that can be converted into

Q94: Plant and Equipment includes which of the

Q95: Which of the following is NOT under

Q96: Gross Profit equals<br>A) Net sales - Other

Q98: Cost of Goods Sold includes<br>A) Freight-in.<br>B) Freight-out.<br>C)

Q99: The general ledger balances are used to

Q100: Reversing entries are recorded on the first

Q102: When closing the expense account, which of

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines