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Gamma Company makes the following entry whenever it pays employee wages: Dr Wage Expense Cr Cash Gamma also accrues unpaid wages at the end of
Gamma Company makes the following entry whenever it pays employee wages:
Dr Wage Expense
Cr Cash
Gamma also accrues unpaid wages at the end of month with the entry
Dr Wage Expense
Cr Wages Payable
At the start of June the balance in the Wages Payable account was $18,000. During June Gamma paid $31,840 in wages charging it all to Wage Expense. Analysis shows there should be $6,810 in accrued wages at the end of June.
Required: What is the correct amount of wage expense to report in Junes Income Statement? $
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