Assume That the City of Juneau Maintains Its Books and Records

question 24

Multiple Choice

Assume that the City of Juneau maintains its books and records to facilitate the preparation of its government-wide financial statements.The City pays its employees bi-weekly on Friday.The fiscal year ended on Wednesday, June 30.Employees had been paid on Friday, June 25.The employees paid from the General Fund had earned $120,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30) .They will earn $80,000 on Thursday and Friday (July 1 and 2) .What entry, if any, should be made on June 30?

• A)Debit Expenditures $120,000; Credit Wages and Salaries Payable $120,000.
• B)Debit Expenditure $200,000; Credit Wages and Salaries Payable $200,000.
• C)Debit Expenses $120,000; Credit Wages and Salaries Payable $120,000.
• D)No entry is required.

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Definitions:

Hierarchy Of Needs

A psychological theory proposed by Abraham Maslow, outlining a sequence of human needs from basic survival to achieving one's full potential.

Need Deprivation

A psychological condition resulting from the lack of fulfillment of basic human needs, affecting behavior and motivation.

Equity Theory

A theory that proposes individuals are motivated by a sense of fairness in the comparison of their own input-output ratio to that of others.

Perceived Inequity

A feeling experienced by employees when they believe the rewards they receive are not proportional to their contributions when compared to others.