객관식
In double-entry accounting, which of the following statements is correct?
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2. Transaction Analysis
Journal Entries: Debits and Credits
객관식
Which of the following journal entries correctly records the payment of wages to employees, as reported on a W-2 form?
A
Debit Wages Expense; Credit Cash
B
Debit Cash; Credit Wages Expense
C
Debit Wages Payable; Credit Wages Expense
D
Debit Salaries Payable; Credit Cash
검증된 단계별 안내1
Understand the nature of the transaction: The payment of wages to employees involves reducing cash (an asset) and recognizing the expense associated with wages. This is typically recorded as a debit to Wages Expense and a credit to Cash.
Recall the accounting principle: Expenses are debited because they decrease equity, and cash is credited because it decreases assets.
Analyze the options provided: The correct journal entry should reflect the payment of wages as a reduction in cash and an increase in expenses. This aligns with the option 'Debit Wages Expense; Credit Cash.'
Eliminate incorrect options: 'Debit Cash; Credit Wages Expense' is incorrect because cash is being paid out, not received. 'Debit Wages Payable; Credit Wages Expense' is incorrect because it involves a liability account, which is not relevant here. 'Debit Salaries Payable; Credit Cash' is incorrect because it refers to salaries payable, not wages expense.
Conclude the correct journal entry: The correct journal entry for recording the payment of wages is 'Debit Wages Expense; Credit Cash,' as it properly reflects the reduction in cash and recognition of the expense.
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