What Are the General Journal Entries That Should Appear on Each

question 23

Multiple Choice

What are the General Journal entries that should appear on each pay date?

• A) Employee pay accrual and employee pay disbursement
• B) Employee pay remittance and voluntary deduction remittance
• C) Employee pay disbursement and voluntary deduction remittance
• D) Employee pay recording and employer share payroll taxes recording

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Definitions:

Month-end Contributions

Payments or deposits made towards an investment or savings plan at the end of each month.

Compounded Monthly

Interest that is calculated and added to the principal balance once a month.

Family Support

Financial contributions, typically governed by legal or agreement, made to support the wellbeing and upkeep of family members.

Economic Value

The significance of a good or service for individuals or society in terms of its ability to satisfy needs or wants.