Answer the following question:

The company has a year-end of April 30 and the last pay period ended April 25. On May 9, the payroll was completed, totaling $14,000, and was recorded using the expedient recording method.

Prepare the journal entries required at the end of April to accrue any wage expense, the reversing journal entry at May 1, and the payment entry on May 9. Determine the balance in the wage expense amount on May 9 after these entries. (Note: There are 14 days in the pay period.)

April 30 Entry:

Dr Wages Expense $5000

Cr Accrued Wages $5000

May 1 Entry:

Dr Accrued Wages $5000

Cr Wages Expense $5000

May 9 Entry:

Dr Wages Expense $14000

Cr Cash $14000

When a company pays the entry is Dr Liability Cr Cash for accrued expenses. Why do we debit an expense account in this question instead?

When do we know when a reversing entry is required?

Why is the expedient recording method used in this question when the expedient method cannot be used for accruals?