The Payroll Summary for EVB Inc

question 22

Multiple Choice

The payroll summary for EVB Inc.for the period August 3 - 10 is as follows: ​ These wages were paid on August 15.
The entry to record the payment of earnings to the employees would include:

• A)A debit to payroll for $105,000.
• B)A credit to wages payable for $80,600.
• C)A debit to wages payable for $80,600.
• D)A credit to cash of $105,000.

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Definitions:

Profit-Making Businesses

Enterprises or organizations that operate with the primary goal of earning financial profits.

Budgetary Slack

Excess resources set within a budget to provide for uncertain events.

Operational Plans

Detailed plans that outline how a strategy will be implemented in terms of day-to-day operations.

Flexible Budget

A budget that shows the expected results of a responsibility center for several activity levels.