When Journalizing the Employees' Pay Accrual,the ________ Is/are the Debit(s),and

question 35

Multiple Choice

When journalizing the employees' pay accrual,the ________ is/are the debit(s) ,and the ________ is one of the credits.

• A)Net pay;gross pay
• B)Payroll tax liabilities;gross pay
• C)Gross pay;net pay
• D)Cash account;net pay

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, clearing the market.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the point where the supply and demand curves intersect.

Quantity Demanded

The amount of a good or service that consumers are willing and able to buy at a given price.

Price

The monetary value assigned to a product or service, indicating how much a buyer must pay to acquire it.