Question
Executive, Inc. has a weekly payroll of $10,000 for a five-day workweek, Monday through Friday. If December 31, the last day of the accounting year,
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Executive, Inc. has a weekly payroll of $10,000 for a five-day workweek, Monday through Friday. If December 31, the last day of the accounting year, falls on Thursday, Executive would make an adjusting entry that would
a.decrease cash by $8,000.
b.increase wages payable by $2,000.
c.increase wages expense by $8,000.
d.decrease wages payable by $2,000.
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Cost Management Accounting And Control
Authors: Don R. Hansen, Maryanne M. Mowen
3rd Edition
0324002327, 978-0324002324
