Complete Cleaning Services Pays Out Wages Every Week on Friday $\begin{array}{|l|c|c|}\hline \text { Wages Expense } & 3,200 \\\hline \text { Wage Payable } &&3,200 \\\hline\end{array}$

question 95

Essay

Complete Cleaning Services pays out wages every week on Friday.Payroll expense totals $4,000 per week,based on a five-day week.The month of June ended on a Thursday.On Thursday,June 30,Complete made the following accrual adjustment:
$\begin{array}{|l|c|c|}\hline \text { Wages Expense } & 3,200 \\\hline \text { Wage Payable } &&3,200 \\\hline\end{array}$
At the same time,they prepared the following reversing entry to be booked on July 1:
$\begin{array}{|l|c|c|}\hline \text { Wages Payable } & 3,200 \\\hline \text { Wage Expense } &&3,200 \\\hline\end{array}$
On Friday afternoon,when wages were paid,what journal entry was made? Omit explanation.

Recognize the application and benefits of quantitative management approaches in solving business problems.

Identify the characteristics and management of open and closed systems.

Explain the role of network models in project management.

Describe the principles of contingency thinking and its application in management.

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Definitions:

De Jure Corporation

A corporation that has fully complied with all legal requirements for its establishment, and thus has legal recognition.

Corporation by Estoppel

A legal doctrine that prevents a party from denying the corporation's existence if they have dealt with it as if it were a legal corporation.

Subchapter S Corporation

A form of corporation in the United States that is taxed under Subchapter S of the Internal Revenue Code, allowing profits to be taxed at the shareholder level rather than at the corporate level.

Domestic Corporation

A corporation that is incorporated and operates in its country of origin, adhering to the laws and regulations of that country.