Question

Colleen Mooney earned a salary of $400 for the last week of September. She will be paid on October 1. The adjusting entry for Colleen's employer at September 30 is:

Select one:
a. No entry is required.
b. Salaries and Wages Expense 400 Salaries and Wages Payable 400
c. Salaries and Wages Expense 400 Cash 400
d. Salaries and Wages Payable 400 Cash 400

Answer 1

Answer:

b. Salaries and Wages Expense 400 Salaries and Wages Payable 400

Explanation:

The expense shall be recognized in the accounts of Colleen's employer at September 30, in respect of the salary earned by Colleen Mooney for the last week of September.

The following adjusting entry shall be recorded in Colleen's employer accounts:

                                                                               Debit                          Credit

Salaries and Wages Expense                               400

Salaries and Wages Payable                                                                   400

Based on above journal entry, the answer shall be b. Salaries and Wages Expense 400 Salaries and Wages Payable 400