Data for an Adjusting Entry Described as "Accrued Wages, $2,020

question 92

Multiple Choice

Data for an adjusting entry described as "accrued wages, $2,020" would result in

• A) a debit to Wages Expense and a credit to Wages Payable
• B) a debit to Wages Payable and a credit to Wages Expense
• C) a debit to Accounts Receivable and a credit Wages Expense
• D) a debit to Dividends and a credit to Wages Payable

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Definitions:

Tax

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Price

The amount of money expected, required, or given in payment for something.

Equilibrium Price

The price at which the supply of an item matches its demand, resulting in market stability.

Market

A venue or mechanism through which buyers and sellers interact to trade goods, services, or financial instruments.