Which Of The Following Describe The Salaries Payable Account

Which Of The Following Describe The Salaries Payable Account Which of the following describe the Salaries payable account Check all that apply It is reported on the balance sheet It is increased with a debit It

Salaries payable is a liability account that contains the amounts of any salaries owed to employees which have not yet been paid to them It is a liability account It reports amounts owed to employees It is increased with a debit It is reported on the balance sheet It is increased with a

Which Of The Following Describe The Salaries Payable Account

Which Of The Following Describe The Salaries Payable Account
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Salaries payable will be debited for 500 Cash would be credited for 4 Which of the following accounts is considered a prepaid expense Supplies What are income statement and balance sheet accounts Salaries expense will increase overall expenses on the income statement which decreases net

Which of the following describe the Salaries payable account Check all that apply It is reported on the balance sheet It is increased with a debit What Is the Journal Entry for Accrued Expenses Accrued expenses are recognized by debiting the appropriate expense account and crediting an accrued liability

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A liability is an obligation to pay a sum amount of money or services to other party which includes salaries payable and unearned revenue The different types of current liabilities include notes payable accounts payable unearned revenues and accrued liabilities such as taxes

Description Accounts Payable is a liability due to a particular creditor when it order goods or services without paying in cash up front which means that you In the journal entry Salaries Expense has a debit of 5000 This is posted to the Salaries Expense T account on the debit side left side Salaries Payable

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Which Of The Following Describe The Salaries Payable Account - What Is the Journal Entry for Accrued Expenses Accrued expenses are recognized by debiting the appropriate expense account and crediting an accrued liability