Bonita Arcade Paid the Weekly Payroll on January 2 by Debiting

question 106

Multiple Choice

Bonita Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $45,000. The accountant preparing the payroll entry overlooked the fact that Salaries and Wages Expense of $23,000 had been accrued at year end on December 31. The correcting entry is

• A)\[\begin{array}{ll}
• \text {Salaries and Wages Payable }&23,000\\\text {Cash }&&23,000\\
• \end{array}\]
• B)\[\begin{array}{ll}
• \text {Cash }&22,000\\\text { Salaries and Wades Expense}&&22,000\\
• \end{array}\]
• C)\[\begin{array}{ll}
• \text { Salaries and Wages Payable}&23,000\\\text { Salaries and Wages Expense}&&23,000\\
• \end{array}\]
• D)\[\begin{array}{ll}
• \text {Cash }&23,000\\\text {Salaries and Wages Expense }&&23,000\\
• \end{array}\]

Acquire techniques for effective sales writing and the AIDA strategy.

Understand the role of persuasion within organizational contexts.

Understand the accounting for investments in equity and debt securities, including classifications and recognition.

Calculate and interpret the components of comprehensive income and how they are reported in financial statements.

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Definitions:

Light Source

An object that emits light, providing illumination for various applications, ranging from domestic lighting to scientific research.

Light Intensity

The amount of light energy per unit of area, an important factor in the photosynthesis process and plant growth.

Cones

Geometric shapes that have a circular base and a single vertex.

Night Vision

The ability to see in low-light conditions.