A Business Paid $725 for Employees' Wages at the End

question 63

Multiple Choice

A business paid $725 for employees' wages at the end of the week.The debit and credit entries are:

• A)Debit Cash $725;credit Equity $725
• B)Debit Cash $725;credit Wages expense $725
• C)Debit Equity $725;credit Wages expense $725
• D)Debit Wages expense $725;credit Cash $725

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Definitions:

Vesting

The process by which an individual acquires the right to a certain benefit or asset, often used in relation to pension plans and stock options.

Assents

Expressions of approval or agreement.

Obligee

A party who is entitled to receive a benefit or performance from another under the terms of a contract.

Assignee

An individual or entity to whom rights or interests have been transferred by another, especially in contractual or legal contexts.