Which of the Following Would Be the Adjusting Journal Entry

question 29

Multiple Choice

Which of the following would be the adjusting journal entry to recognize earned but unpaid wages for the period?

• A)Dr.Wages Expense, Cr.Cash
• B)Dr.Wages Payable, Cr.Cash
• C)Dr.Wages Payable, Cr.Wages Expense
• D)Dr.Wages Expense, Cr.Wages Payable

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Definitions:

Cash Advance

A short-term loan from a bank or alternative lender, often accessed through a credit card.

Assets

Resources owned or controlled by a business, expected to produce economic value or future benefits for the company.

Owner's Equity

The amount of ownership interest that the owner of a sole proprietorship or partners in a partnership have in their business, similar to stockholders' equity in a corporation.

Journal Format

A structured way of recording financial transactions in chronological order, typically used in bookkeeping and accounting.