Balance Day Adjustments - accrued expenses

An accrued expense is what type of account?

• Asset
• Liability
• Revenue
• Expense

We are accruing wages for the year end.  What is the journal?

• Dr Accured Expense,  Cr Expense
• Dr Wages,  Cr Accrued expense
• Dr Wages,  Cr Prepaid expense
• Dr Wages,  Cr Accrued revenue

If wages have been paid until the 25th June with a weekly amount paid of $1,400.00.  How much would be accrued as at the 30th June.

• $900.00
• $400.00
• $1,000.00
• $1,400.00

What is the journal for accrued wages of $1,100.00 at the end of the year.

• Dr Accrued expense,  Cr Wages
• Dr Wages,  Cr Accrued expense
• Dr Accrued expense, Cr Insurance
• Dr Prepaid expense,  Cr Wages

If total wages of $5,500.00 are paid monthly on the 5th of the month following.  Example May wages are paid on the 5th June.  How much will be acrrued as at 30th June?

• $2,750.00
• $1,375.00
• $5,500.00
• $5,000.00

Wages are paid weekly for $28,000.00.  2 days are accrued as at 30 June.  What is the correct journal?

• Dr Accrued wages $8,000.00  Cr Wages $8,000.00
• Dr Wages $8,000.00  Cr Accrued wages $8,000.00
• Dr Accrued wages $16,000.00  Cr Wages $16,000.00
• Dr Wages $16,000.00  Cr Accrued wages $16,000.00

Which of the folowing are an example of accrrued expenses?

• Bank
• Wages
• Rent
• Accounts payable

Which of the following is another example of an accrued expense?

• Accounts Receivable
• Interest payable
  Interest payable
• Stationery
• GST