Accounting adjustments to account for unpaid wages, Financial Accounting

Assignment Help:

James Bell plans to stay at the Michaels Motel for one month, and he prepays his room charges. Bell arrives and begins his stay on January 21. To account for Bell's prepayment, at the end of January (the end of the accounting period) the motel accountant should:

Answer

	a.	debit Unearned Room Revenue and credit Room Revenue.
	b.	credit Room Revenue and debit Cash.
	c.	credit Accounts Receivable and debit Cash.
	d.	debit Unearned Room Revenue and credit Cash.

Question

Accounting adjustments to account for unpaid wages would:

Answer

	a.	debit Wage Expense and credit Accrued Wages Payable.
	b.	credit both Wage Expense and Cash.
	c.	credit Wage Expense and debit Accrued Wages Payable.
	d.	debit both Wage Expense and Accrued Wages Payable.

Related Discussions:- Accounting adjustments to account for unpaid wages

Accounts required-bankruptcy and liquidation, ACCOUNTS REQUIRED This ca...

ACCOUNTS REQUIRED This can be summarized depending on the nature of the situation. In a receivership you may be required to prepare a receivers receipt and payments. In the pro

Department accounting, In the spring of each year, Steinbrook College's the...

In the spring of each year, Steinbrook College's theater department puts on a contemporary play. Before the performance, the theater manager instructs student volunteers in their d

Advise the directors of the entity, An entity had the following transaction...

An entity had the following transactions during the year ended 31 December 2010: The entity invested in a convertible bond on its issue date. The bond matures four years aft

Interest is deductible on schedule a, Heather & Terry have a mortgage on th...

Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expens

Determine the lifo cost, Determine the LIFO cost Toys "R" Us purchases ...

Determine the LIFO cost Toys "R" Us purchases inventory in crates of merchandise; each unit of inventory is a crate of toys. The fiscal year of Toys "R" Us ends each January 31

Compute the npv and irr, Question: Consider a project that involves the...

Question: Consider a project that involves the purchase of a $100,000 machine. The machine will last for three years. It is expected to produce 20,000 units per year. The sa

Estimate comparative advantage, The only two countries in the world, Alpha ...

The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers (all units measured in tons). Alpha's Production PossibilitiesFrontier

Mortgage, Ask questiJohn’s away at the moment, and his email provider has a...

Ask questiJohn’s away at the moment, and his email provider has a size limit on the data that can be sent via email. What is a potential solution for John, and name a provider that

Different powers of investment-trust laws and accounts , Powers of investme...

Powers of investment 1. Shares and debentures: A trustee may: Invest in bearer securities if these would otherwise be authorised; Acquiesce in an amalgamation

VAT, EXAMPLES OF HOW VAT SYSTEM WORKS

EXAMPLES OF HOW VAT SYSTEM WORKS

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages