Sally's Spices Accrued and Unpaid Wages Are $2,000

question 68

Multiple Choice

Sally's Spices accrued and unpaid wages are $2,000. Which of the following is the required adjusting entry?

• A) Debit Salaries Expense, $2,000; credit Salaries Payable, $2,000
• B) Credit Salaries Expense, $2,000; debit Salaries Payable, $2,000
• C) Debit Cash, $2,000; credit Salaries Expense, $2,000
• D) Debit Salaries Payable, $2,000; credit Cash, $2,000

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Definitions:

Implied Warranty of Habitability

A legal doctrine that ensures rental properties meet basic living and safety standards.

Leased Premises

Property that is rented under a lease agreement, granting the tenant certain rights to use the property for a specified period.

Residential Purposes

Pertains to the use of property for living accommodations or dwelling rather than for commercial or industrial activities.

Qualified Fee Estate

A type of land ownership subject to certain conditions or limitations that must be met for full ownership rights to be retained.