A Company's Weekly Payroll Amounts to $50,000 and Payday for the Week

question 93

Multiple Choice

A company's weekly payroll amounts to $50,000 and payday for the week is every Friday.Employees work five days per week, Monday through Friday.The appropriate journal entry was recorded at the end of the accounting period, Monday, March 31, 2014.What amount is wages expense for April for the payday, Friday, April, 4, 2014?

• A)$ -0-
• B)$40,000
• C)$10,000
• D)$50,000

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Definitions:

Lease Alternative

This term could refer to the option of leasing as opposed to purchasing an asset, often evaluated to determine the most cost-effective method of acquiring the asset.

Commitment To Finance

A lender's promise to provide funds under specified conditions to a borrower for a particular transaction.

After-Tax Cost

The actual cost of an investment or loan after considering the effects of taxes on its profitability or expense.

Salvage Value

The estimated resale value of an asset at the end of its useful life.