A Company Incurred $10,000 in Wages for Employees During the Year.Of

question 20

Multiple Choice

A company incurred $10,000 in wages for employees during the year.Of these wages,$9,000 was paid by the end of the year.Which of the following statements is correct?

• A)Salaries and Wages Payable on the income statement will be $9,000.
• B)Salaries and Wages Expense on the income statement will be $1,000.
• C)Salaries and Wages Expense on the balance sheet will be $10,000.
• D)Salaries and Wages Payable on the balance sheet will be $1,000.

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Definitions:

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A statistic that reflects the composite value of a selected group of stocks, representing their aggregate performance.

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A corporation's distribution of earnings to its shareholders, usually made as a payment.

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A contractual agreement for the future delivery of soybeans at a predetermined price, used for hedging and speculating in the commodities market.