Question

In recording the monthly adjusting entry for accrued wages at the end of the accounting period, the amount of the adjustment would usually be determined by: a. using the same amount as the prior month adjustment. b. collecting the timesheets for the days accrued. c. a percentage of the previous week's gross payroll. d. using the wages of the salaried workers only. e. a percentage of the previous week's n

Answer 1

Answer: a percentage of the previous week's gross payroll

Explanation:

Accrued wages are the wages that have been incurred by an organization but have not yet being recorded in the organization's accounting ledgers.

It should be noted that when recording the monthly adjusting entry for accrued wages at the end of the accounting period, the amount of the adjustment would usually be determined by percentage of the previous week's gross payroll.