During 2023 Annette's Mechanical paid out $85 000 in wages from its bank account. This $85 000 included $5 400 that was owing but unpaid
During 2023 Annette's Mechanical paid out $85 000 in wages from its bank account. This $85 000 included $5 400 that was owing but unpaid at year-end for 2022. At year-end 2023 wages owing but unpaid were $12 300. The business uses accrual accounting. How much would be reported as wages expense for 2023?
Question 5Answer
a.$97 300
b.$91 900
c.$12 300
d.$85 000
Step by Step Solution
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Step: 1
To determine the wages expense for 2023 using accrual accounting we need to account for wages i...
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Step: 2
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Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
