Ask Question
BusinessBusiness
22 November, 23:19

Select the correct answer.

Jamle is the accountant of a logistics company. In the month of December, $5,000 of wages remained unpald. The accounting period of the

company ends in the month of December. What will be the adjusting entry passed by Jamle?

A. Wages Account - Debit Wages Payable Account - Credit

B. Wages Account - Debit Cash Account - Credit

C. Wages Payable Account - Debit Bank Account - Credit

D. Wages Payable Account - Debit Wages Account - Credit

Reset

Next

+2
Answers (1)
  1. 22 November, 23:20
    0
    The correct option is A

    Explanation:

    Under the accrual basis of an accounting system, an expense has to be booked in the period in which it is incurred whether such an expense has been paid or not.

    The following Journal Entry will be passed in the books of accounts of a company:

    Wages account will be debited with an amount of 5000 and Wages Payable account will be credited with an amount of 50000

    Thus, the correct answer will be option A from the given options.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Select the correct answer. Jamle is the accountant of a logistics company. In the month of December, $5,000 of wages remained unpald. The ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Your reading material explains why wholesale clubs such as costco can sell items like canned tuna for less. the main factor comes down to what? is it delivery costs?
Answers (1)
Serena's financial goal is to reduce debt. Which statement could make Serena's financial goal specific and timely? A Serena should focus on a certain credit card and give herself a deadline. B.
Answers (1)
Where did the Havaianas originate?
Answers (1)
Which of the following data is in ascending order? grapes, cookies, bananas apples, chips, muffins 5, 3, 1 1, 4, 3
Answers (2)
A source document that an employee uses to report how much time was spent working on a job or on overhead activities and that is used to determine the amount of direct labor to charge to the job or to determine the amount of indirect labor to charge
Answers (1)
New Questions in Business
What are the order of in which management can take legal action against a employee
Answers (1)
What best describes an entrepreneur? a. Someone who initiates and assumes the financial risk of a new business enterprise. b. A person who knows how to evaluate which stocks to purchase. c. Someone who can expertly manage other people's investments.
Answers (1)
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)
Sykora, Inc., which uses a predetermined overhead rate based on direct labor hours, estimated total overhead for the year to be $12,000,000 and total direct labor hours to be 320,000 hours. Calculate Sykora's predetermined overhead rate.
Answers (1)
Appalachian mountain goods has paid increasing dividends of $.10, $.12, $.15, and $.20 a share over the past four years, respectively.
Answers (1)
Home » Business » Select the correct answer. Jamle is the accountant of a logistics company. In the month of December, $5,000 of wages remained unpald. The accounting period of the company ends in the month of December.
Sign Up Forgot Password?