Employees Have Worked for the Full Year and Have Received

question 2

Multiple Choice

Employees have worked for the full year and have received total wages of $306,000 in cash. However, they must wait until the next payday to be paid for the last three days of the year they have worked. The amount owing is $5,500. Wages expense in the income statement and accrued wages in the balance sheet are, respectively:

• A) $311,500; $0
• B) $306,000; $0
• C) $306,000; $5,500
• D) $311,500; $5,500

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Definitions:

Industrial Users

Businesses that purchase goods or services for use in the production of other products or services, rather than for resale.

Salespeople Evaluation

The assessment of sales personnel's performance, effectiveness, and alignment with business objectives.

Outcomes

The results or consequences of specific actions, strategies, or interventions within a given context or enterprise.

Activities

Tasks or actions undertaken by individuals, usually referring to events involving movement, creativity, or social interaction.