The Payroll Summary for EVB Inc

question 30

Multiple Choice

The payroll summary for EVB Inc. for the period August 3 - 10 is as follows: The entry to record the payment of earnings to the employees would include:

• A)A debit to payroll for $105,000.
• B)A credit to wages payable for $80,600.
• C)A debit to wages payable for $80,600.
• D)A credit to cash of $105,000.

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Definitions:

Ebola Virus

A severe and often fatal virus transmitted to people from wild animals, known for causing Ebola virus disease in humans and non-human primates.

Lethal

Causing or capable of causing death; deadly.

Economy's Income

The total earnings from production and investment activities within an economy over a specific period, including wages, profits, and investment income.

Market Equilibrium

A state where the quantity supplied and the quantity demanded of a product are equal at a certain price level.