Sunland 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 $1530 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January? A) Salaries and Wages Expense 7650 Salaries and Wages Payable 7650 B) Salaries and Wages Expense 4590 Salaries and Wages Payable 4590 C) No adjusting entry is required. D) Salaries and Wages Expense 1530 Salaries and Wages Payable 1530
Sunland 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 $1530 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January? A) Salaries and Wages Expense 7650 Salaries and Wages Payable 7650 B) Salaries and Wages Expense 4590 Salaries and Wages Payable 4590 C) No adjusting entry is required. D) Salaries and Wages Expense 1530 Salaries and Wages Payable 1530
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunland 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 $1530 a day in wages. What will be the
A)
Salaries and Wages Expense | 7650 | |
Salaries and Wages Payable | 7650 |
B)
Salaries and Wages Expense | 4590 | |
Salaries and Wages Payable | 4590 |
C) No adjusting entry is required.
D)
Salaries and Wages Expense | 1530 | |
Salaries and Wages Payable | 1530 |
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