The Balance of the Wages Expense Account of Ryan Company,prior

question 64

Essay

The balance of the Wages Expense account of Ryan Company,prior to adjustment,was $95,000.On December 31,the end of the fiscal year,an adjustment for $7,900 of accrued wages needed to be made.On January 12,wages of $56,400 were paid.Prepare the adjusting entry for wages,the entry to close the Wages Expense account,the corresponding reversing entry,and the entry to pay the wages on January 12.Omit explanations.

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Definitions:

Red Petals

Colored sections of a flower's corolla, often used to attract pollinators.

Statistical Significance

A measure of the likelihood that an observed difference or relationship exists due to chance.

Utricle

A part of the inner ear involved in sensing linear accelerations and head-tilt positions relative to gravity.

Saccule

A small, bed-like structure in the vestibular system of the inner ear, contributing to the sense of balance.