The Balance in the Wages Payable Account Increased from $12,200

question 3

Multiple Choice

The balance in the Wages Payable account increased from $12,200 at the beginning of the month to $15,000 at the end of the month. Wages accrued during the month totaled $61,000.

• A) Wages paid during the month totaled $58,200.
• B) Wages paid during the month totaled $64,800.
• C) Wages expense for the month totaled $58,200.
• D) Wages expense for the month totaled $76,000.

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Definitions:

Corporate Law

A body of law that regulates the formation, governance, dissolution, and administration of corporations.

Sole Proprietorship

A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business.

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights and a stake in its performance.

Lawsuit

A legal action brought in court by one party against another for the purpose of obtaining a remedy or resolution for a dispute.