Adjusting Entries: Accrued Expenses Video Lessons

Video Thumbnail

Concept

Problem: Gross wages of $20,000 accrued but not paid to employees at the end of 2010 should be recorded by the employer in a journal entry that includes a A. debit of $20,000 to Compensation payable. B. credit of $20,000 to Cash. C. debit of $20,000 to Compensation expense. D. debit of $20,000 to Cash.

FREE Expert Solution
Problem Details

Gross wages of $20,000 accrued but not paid to employees at the end of 2010 should be recorded by the employer in a journal entry that includes a

A. debit of $20,000 to Compensation payable.

B. credit of $20,000 to Cash.

C. debit of $20,000 to Compensation expense.

D. debit of $20,000 to Cash.

Frequently Asked Questions

What scientific concept do you need to know in order to solve this problem?

Our tutors have indicated that to solve this problem you will need to apply the Adjusting Entries: Accrued Expenses concept. You can view video lessons to learn Adjusting Entries: Accrued Expenses. Or if you need more Adjusting Entries: Accrued Expenses practice, you can also practice Adjusting Entries: Accrued Expenses practice problems.

What is the difficulty of this problem?

Our tutors rated the difficulty ofGross wages of $20,000 accrued but not paid to employees at ...as low difficulty.