Walker Company Uses the Accrual Basis of Accounting

question 33

Multiple Choice

Walker Company uses the accrual basis of accounting. Walker Company's wages expense account had a $610,000 balance at the end of the year. The wages payable account had a $23,000 balance at the beginning of the year and a $45,000 balance at the end of the year. How much cash was paid for wages during the year?

• A) $588,000
• B) $610,000
• C) $632,000
• D) $555,000

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Definitions:

Segregation

The process during meiosis where homologous chromosomes are separated into different gametes, ensuring genetic diversity.

Homologous

Refers to chromosomes with the same gene sequence, potentially differing in alleles, or structures/organs that have a similar position or function but not necessarily the same origin.

Loci

Specific positions or locations on a chromosome where a gene or genetic marker is found.

Tay-Sachs Disease

Autosomal recessive genetic disorder that results in a deficiency in the enzyme hexosaminidase A; causes an accumulation of glycolipids in the lysosomes, resulting in a progressive loss of psychomotor functions.