The answer would be D: debit to an asset. Hoped this helped:)
Franchising is the practice of paying a company to use its name, resources and operation systems.
Answer:
Accounts
Wages Expense
Wages Payable
$100,000
$100,000
Explanation:
As the expense is accrued but not paid at the end of 2013. The transaction requires an adjusting entry. This will charge a wages expense and create the wages payable liability. Ultimately on January 3 it will be paid. Wages for the two weeks are $100,000 and the 14 days has been passed for the pay period until year end of 2013.
<span>External users are people outside the business entity (organization) who use accounting information. Examples of external users are suppliers, banks, customers, investors, potential investors, and tax authorities.</span>
