Solved

Cindi's Candies Paid Employee Wages on and Through Friday, January  Wages Expense 700 Wages Payable700\begin{array} { l } \text { Wages Expense }&700 \\ \text { Wages Payable}&&700 \\\end{array}

Question 87

Multiple Choice

Cindi's Candies paid employee wages on and through Friday, January 26, and the next payroll will be paid in February.There are three more working days in January (29-31) .Employees work 5 days a week and the company pays $700 a day in wages.What will be the adjusting entry to accrue wages expense at the end of January?


A)  Wages Expense 700 Wages Payable700\begin{array} { l } \text { Wages Expense }&700 \\ \text { Wages Payable}&&700 \\\end{array}

B)  Wages Expense 3,500Wages Payable 3,500\begin{array} { l }\text { Wages Expense }&3,500 \\ \text {Wages Payable }&&3,500 \\\end{array}

C)  Wages Expense2,100Wages Payable 2,100\begin{array} { l }\text { Wages Expense}&2,100 \\ \text {Wages Payable }&&2,100 \\\end{array}

D) No adjusting entry is required. \begin{array} { l }\text {No adjusting entry is required. }& \\\end{array}

Correct Answer:

verifed

Verified

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

Related Questions