A Landscaping Company Operates Five Days Per Week with a Daily

question 105

Multiple Choice

A landscaping company operates five days per week with a daily payroll of $16,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday) . The last day of the month is Wednesday, March 31. What is the amount of Wages Expense recorded on the next payday, Saturday, April 3?

• A)$ -0-
• B)$48,000
• C)$32,000
• D)$80,000

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Definitions:

Salvage Value

The estimated resale value of an asset at the end of its useful life, considered in depreciation calculations.

Depreciation

The planned apportionment of a tangible asset's cost over the time it is useful.

Salvage Value

The estimated resale value of an asset at the end of its useful life, important for depreciation calculations.

Market Value

Market value is the current price at which an asset or service can be bought or sold in a marketplace, often influenced by supply and demand dynamics.