At December 31,2010,the Following Adjusting Entries Were Recorded in the Accounts

question 100

Short Answer

At December 31,2010,the following adjusting entries were recorded in the accounts of CPA Company:
$$\begin{array} { c c c } \text { Interest receivable } & 2,000 & \\\text { Interest revenue } & & 2,000 \\\text { Wages expense } & 10,000 & \\\text { Wages payable } & & 10,000\end{array}$$ There were no other accrued receivables or payables on CPA's books in 2010.
Calculate the balances in the following accounts immediately after the closing entries were posted. $\begin{array}{|l|l|l|l|}\hline \text { Transactions } & \text { Accounts } \\ & {\text { Debit }} & \text { Credit } \\\hline 1 . \text { Interest receivable }& \$ & \$ \\\hline 2 . \text { Interest revenue }& \$ & \$ \\\hline 3 .\text { Wages expense } & \$ & \$ \\\hline 4 . \text { Wages payable }& \$ & \$ \\\hline\end{array}$

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Definitions:

Standard Deviations

A statistical measure indicating the dispersion or spread of a set of numbers from their mean; it shows how much variation there is from the average.

Independent

Not influenced by or subject to another, capable of thinking or acting for oneself.

Standard Deviations

An estimator of the dispersion level or variability in a sequence of numbers.

Independent

A term indicating that two variables or events have no association and the occurrence of one does not affect the probability of occurrence of the other.