A Business Pays Weekly Wages of $20,000 on Friday for a Five-Day

question 4

Multiple Choice

A business pays weekly wages of $20,000 on Friday for a five-day week ending on that day. If the fiscal period ends on Wednesday, the adjusting entry is

• A)debit Wages Expense, $12,000; credit Drawing, $12,000.
• B)debit Wages Expense, $12,000; credit Wages Payable, $12,000.
• C)debit Drawing, $12,000; credit Wages Payable, $12,000.
• D)debit Wages Payable, $12,000; credit Wages Expense, $12,000.
• E)none of these.

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Definitions:

Superiority

The state or condition of being superior to others in performance, quality, or status.

Inferiority

A feeling of being lower in status or quality than others.

Third Person

A point of view in communication or literature where the narrator or presenter refers to all participants using third-person pronouns like he, she, it, or they.

Second Person

A point of view in literature where the narrator addresses the reader directly using 'you.'