Asked by reesce whiteman on May 25, 2024
Verified
Which of the following describes the transaction resulting in a journal entry with a debit to Wages Payable and a credit to Cash?
A) Wages expense has been incurred but is unpaid.
B) Cash was used to pay for wages that were previously recorded as an expense.
C) Cash was used to pay for wages that were not previously recorded as an expense.
D) Cash was used to prepay employee wages.
Wages Payable
A liability account that records the amount of unpaid wages earned by employees at the end of a reporting period.
Debit to Cash
An accounting entry that increases the cash balance in the company's ledger, reflecting an inflow of cash.
Previously Recorded
Refers to transactions or events that have been documented or accounted for in a prior accounting period.
- Implement the journal entry recording process for diverse business transactions.
Verified Answer
Learning Objectives
- Implement the journal entry recording process for diverse business transactions.
Related questions
During the Month of June, Jane Invested $19,000 in Starting ...
The Journal Entry Debiting Cash and Crediting Capital Would Be ...
The Entry to Record the Payment of Office Salaries Would ...
NBC Made a $2,500 Payment on Account,to Satisfy a Previously ...
On January 1, Merry Walker and Other Stockholders Established a ...