Question
The company paid cash to Lyn Addie for five days’ work at the rate of
day. Four of the five days relate to wages payable that were accrued in the
prior year.
day. Four of the five days relate to wages payable that were accrued in the
prior year.
Ask by Ellis Phillips. in the United States
Mar 17,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The company paid Lyn Addie a total of $975 for five days’ work.
Solution
To find the total amount paid to Lyn Addie for five days’ work, we can calculate the total amount by multiplying the daily rate by the number of days worked.
Given:
- Daily rate: $195
- Number of days worked: 5
Total amount paid = Daily rate * Number of days worked
Total amount paid = $195 * 5
Total amount paid = $195 * 5
Let’s calculate the total amount paid to Lyn Addie.
Calculate the value by following steps:
Calculate the value by following steps:
- step0: Calculate:
- step1: Multiply the numbers:
The total amount paid to Lyn Addie for five days’ work is $975.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Simplify this solution The Deep Dive
Did you know that cash payments for wages not only impact the company’s cash flow but also play a vital role in accounting principles? Companies are required to recognize wages incurred and accrued in the correct accounting period. This ensures that the financial records accurately reflect expenses and liabilities, supporting the fundamental concept of the matching principle!
Now, let’s consider how this affects the accounting records. When paying Lyn Addie, the company will debit the wages expense for
