O-LevelAccountingAccounting procedures7707/11 · May/June 2019 · Q101 Mark

Ali's financial year ends on 31 March. During the year ended 31 March 2019, Ali paid wages of $42500. On 31 March 2019, $1400 wages were accrued. Which journal entry records the transfer from the wages account to the income statement on 31 March 2019? debit $ credit $ A income statement 42 500 wages 42 500 B income statement 43 900 wages 43 900 C wages 42 500 income statement 42 500 D wages 43 900 income statement 43 900

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Aincome statement 42 500 wages 42 500

Bincome statement 43 900 wages 43 900

Cwages 42 500 income statement 42 500

Dwages 43 900 income statement 43 900

✓ Correct answer

A: income statement 42 500 wages 42 500

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2019 Paper 1 Variant 1, question 10.

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