Multiple Choice
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
Correct Answer:
Verified
Correct Answer:
Verified
Q9: The balance in the account, Rent Collected
Q10: The Cash account is never part of
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2047/.jpg" alt=" -Refer to California
Q27: The following unadjusted account balance was taken
Q42: An _ revenue must be recorded when
Q99: Which of the following does not occur
Q104: Assets become expenses when?<br>A)Purchased for cash or
Q113: Failure to record the earned portion of
Q138: _ is the name given to balance
Q150: The first step in the accounting cycle