Multiple Choice
Proctor Inc.has a weekly payroll of $8,000 for a five-day workweek,Monday through Friday.If December 31,the last day of the accounting year,falls on Wednesday,Proctor would make an adjustment that would
A) increase wages expense by $4,800.
B) decrease wages payable by $4,800.
C) decrease cash by $4,800.
D) increase wages payable by $8,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q41: The solution to this problem requires time
Q42: If a 12% interest rate is compounded
Q43: When a liability is accrued,the account debited
Q44: The issue price of a bond is
Q45: The total amount of simple interest calculated
Q47: The solution to this problem requires time
Q48: An annuity is a series of equal
Q49: For a given single sum invested at
Q50: Almost all current liabilities affect the Operating
Q51: A company has $200 in cash,$500 in