Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

On January 10, X2 Tio Pace Company paid cash of $2,200 to its employees for wages. Of this amount 5700 in cash was to pay

image text in transcribed
On January 10, X2 Tio Pace Company paid cash of $2,200 to its employees for wages. Of this amount 5700 in cash was to pay for employee services that had been performed last year. The remaining $1.500 cash was for employee services performed this year; the $1,500 in employee services this year have not been recorded. The appropriate adjusting entry on December 31, X1 of Wages Expense and Wages Payable were recorded in the amount of $700 each. Which ONE of the following would be included in the journal entry necessary to record the $2,200 cash payment on January 10, X2? A DEBIT to Wapes Payable for $1,500 A CREDIT to Wages Payable for $700 O A DEBIT to Wages Payable for $700 O A DEBIT to Wages Expense for $2,200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

978-0470423684

Students also viewed these Accounting questions