The balances of the two wages accounts at October 31, after adjustments at the end of the

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The balances of the two wages accounts at October 31, after adjustments at the end of the first year of operations, are Wages Payable, $11,900, and Wages Expense, $825,000. Determine the amount of wages paid during the year.

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Survey of Accounting

ISBN: 978-1285183480

7th edition

Authors: Carl S. Warren

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Question Posted: Mar 11, 2014 10:12 AM

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The correct entry should be Debit: Armstrong, Capital $48,000 Credit: Cash $58,000 Debit: Jackson, Capital $5,000 Debit: Tanner, Capital $5,000

The balances of the two wages accounts at October 31, after adjustments at the end of the

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Survey of Accounting

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