A Company Shows a Balance in Salaries and Wages Payable $\begin{array}{lrr} \text { Salaries and Wages Expense. } & 50,000 & \\ \text { Salaries and Wages Payable... } & & 50,000 \\\end{array}$

question 60

Short Answer

A company shows a balance in Salaries and Wages Payable of $34000 at the end of the month. The next payroll amounting to $50000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? a. $\begin{array}{lrr} \text { Salaries and Wages Expense. } & 50,000 & \\ \text { Salaries and Wages Payable... } & & 50,000 \\\end{array}$

b. $\begin{array}{lrr} \text { Salaries and Wages Expense. } & 50,000 & \\ \text { Cash} & & 50,000 \\\end{array}$

c. $\begin{array}{lrr} \text { Salaries and Wages Expense } & 16,000 & \\ \text { Cash. } & & 16,000 \\\end{array}$

d. $\begin{array}{lrr}\text { Salaries and Wages Expense... } & 16,000 & \\ \text { Salaries and Wages Payable } & 34,000 & \\\text { Cash. } & & 50,000 \\\end{array}$

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Definitions:

Caffeine

A stimulant compound found in coffee, tea, and other beverages that affects the central nervous system.

Stimulants

Drugs that increase alertness, attention, and energy by elevating the levels of certain neurotransmitters in the brain.

Nicotine

A stimulant drug found in tobacco products that's addictive and can have both stimulating and calming effects.

Amphetamines

A class of stimulant drugs that increase activity within the brain and nervous system and are used therapeutically for conditions like ADHD and narcolepsy.