Net Pay is: Group of answer choices credited to Salaries Payable. Credited to Salaries Expense. Debited to Salaries Expense. Debited to Salaries Payable

Q: Journal entry to record salaries will include:(a) Debit salaries Credit cash.(b) Debit capital…

A: Journal Entry: A  journal entry  is the act of keeping or making records of any transactions. The…

Q: THE NORMAL BALANCE IN A SALARIES PAYABLE ACCOUNT Choose. THE NORMAL BALANCE IN UTILITIES EXPENSE…

A: Each account in a balance can have Debit or credit balance.

Q: Identify whether a debit or credit results in the indicated change for each of the following…

A: Definition: Rules of Debit and Credit: Following rules are followed for debiting and crediting…

Q: How to calculate salaries payable

A: Salaries payable can be defined as the liability account containing the amount of salaries, if any,…

Q: What is the Unearned service revenue in the adjusted trial balance columns of worksheet?

A: Balance sheet represents the financial position of the company that involve the assets, liabilities,…

Q: Which of the following accounts is a permanent account? Multiple Choice Fees earned. Office supplies…

A: Permanent account refers to those accounts which are not closed at the end of an accounting year and…

Q: Under accrual accounting, when should expenses be matched against revenue? after cash is collected…

A: Accrual basis: Under accrual basis accounting, revenue and expenses are recognized when they are…

Q: Salary Expenses are shown in the a. Statement of Changes in Equity b. Income statement and balance…

A: Salary expenses are the fixed expenses paid to the employees.

Q: he adjusting entry to record the earned but unpaid salaries of employees at the end of an accounting…

A: To record accrued salaries, Salaries expense is debited and Salaries payable is credited because…

Q: Which account is debited when the net wages of the employees are paid? Select one: A. Wages B. Bank…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: What are revenues that have been earned but not recorded in the accounts called? Group of answer…

A: Deferred revenue, also known as unearned revenue, refers to advance payments a company receives for…

Q: Using accrual accounting, expenses are recorded and reported only a.when they are incurred, whether…

A: Under Accrual system of accounting, expenses are recorded in the books of account as they are…

Q: The payment for utilities of the current month would be recorded as a. Debit Cash; Credit Utilities…

A: Rules of Debit and Credit: Following rules are followed for debiting and crediting different…

Q: Data for adjusting entry described as "accrued wages, $2,020" Requires a A. Debit to Account…

A: Adjusting journal entry are entries which are made at the end of the accounting year to record the…

Q: the type of account and normal balance of unearned consulting fees is A. REVENUE, CREDIT B.…

A: Unearned consulting fees means that portion of revenue which is received in advance and the business…

Q: 10. In which part of Statement of Financial Position does the Salaries Payable be listed? a. Assets…

A: As we answer only one question, I am answering the first question. Please resubmit the questions…

Q: Net income is shown on the work sheet as a a.debit in the Adjustments column. b.debit in the…

A: Spreadsheet: A spreadsheet is a worksheet. It is used while preparing a financial statement. It is a…

Q: Under accrual basis of accounting, revenue is recognized when ______________ and expenses are…

A: Accrual basis of Accounting recognises when transactions take place. Under accrual basis accounting…

Q: Salary expanse depited in income statement?  Amount of salary outstanding in the balanced sheets?…

A: Balance sheet: It is a statement which reports both assets and liabilities as on a particular date…

Q: Which of the following defines outstanding salary account? [A] natural personal account [B]…

A: Outstanding salary refers to the amount which a business has to pay to persons, employees for…

Q: The entry to adjust for salaries that have not been paid is ? Select one: O a. Debit Salaries…

A: Adjusting entries are prepared at the end of the accounting period to ensure the accrual base…

Q: iew transaction list Journal entry worksheet 2 Record the payment of accrued salaries.

A: Journal entry Journal entry is a set of economic events which can be measured in financial terms.…

Q: For the following accounts please indicate whether the normal balance is a debit or a credit. Wages…

A: ACCOUNT NORMAL BALANCE ASSET DEBIT EXPENSE DEBIT LIABILITY CREDIT INCOME CREDIT

Q: Which account is least likely to appear in an adjustingjournal entry?a. Cashb. Interest Receivablec.…

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year,…

Q: WAGES EXPENSE is a(an) and is increased with a Fill in the blanks with the appropriate response. For…

A: Since you have asked multiple questions, we will solve the first question for you . If you want any…

Q: Two Part Question Here:Question 1: Please tell me what type of account are the following and if…

A: Step1: All accounting items have normal balances which is either debit balance or credit balance and…

Q: Determine which permanent accounts should be included in the post closing trial balance. Income Tax…

A: Note points - - Post-closing trial balance will include only permanent and real accounts. - such as…

Q: Indicate whether a debit or credit decreases the normal balance of each of the following accounts.…

A: As per the three golden rules of accounting a) In case of real accounts-We need to debit what comes…

Q: Which of the following accounts may appear on a post-closing trial balance? Cash, Salaries Payable,…

A:

Q: What is salaries payable an equity, revenue, expense account, liability or expense?

A: Balance Sheet - Balance Sheet is combination of assets, liabilities and equity. It is prepared at…

Q: One of the staff members asks you to explain the difference between the terms gross and net on the…

A: An employee gets compensated for the service by the employer. The employee receives a basic salary,…

Q: Accrued salaries decreases the liabilities of the company under the salaries payable account * O…

A: Accrued Salaries :  a) Accrued salaries means salaries which is required to be payable to the…

Q: Which of the following describes the transaction resulting in a journal entry with a debit to…

A: Salaries payable are debited when previously incurred salaries expenses are being paid now.…

Q: Identify which of the following items would appear on a balance sheet with either "Yes" or "No". a.…

A: Introduction: Balance sheet: All assets and liabilities are reported in Balance sheet. It tells the…

Q: Which Accounting Principles says personal expenses should be debited to Drawings Account. a.…

A: Lets understand all the accounting principal given in the option. As per the accounting entity…

Q: Data for an adjusti entry described as " accured wages ,$2,020 " requires a A. Debit to wages…

A: Debit  Credit Wages Expense (Expense…

Q: Who among the following uses accounting information to know the possible wage increments? a. Owners…

A: The company is paying wages to its employees.Any amendment in wages payment will affect the…

Q: What is the difference between: Salaries and wages expense on the income statement And Salaries and…

A: The income statement and balance sheet are the financial statements of the business.

Q: Which of the following account groups does not include a nominal account? a.Prepaid Insurance,…

A: Nominal account: Nominal account refers to the accounts which are related to the losses, expenses,…

Q: What is the difference between Wages Payable and Wages Expense? What statement do they appear on?…

A:

Q: Based on the accrual accounting rule, the revenue is recognized when ___________ and the expense is…

A: Accrual based accounting method record revenue and Expense when the transaction is incurred rather…

Q: What are expenses that have been incurred but not recorded in the accounts called? Group of answer…

A: Introduction: A cost incurred by a corporation is a cost paid to suppliers or for items or services…

Q: Using accrual accounting, expenses are recorded and reported only a.if they are paid before they…

A: As per the cash basis of accounting, we should record the transaction only when corresponding cash…

Q: Fill in the blank Add up all Earned Income from all and _ "Wages, salaries, tips, etc.". Input all…

A: Taxable income:-It is an income that is liable for tax payment as per the slab rate prescribed in…

Q: Which account has a normal debit balance? Advertising expense Salaries payable Service revenue…

A:

Q: The entry to adjust the accounts for salaries accrued at the end of the accounting period is…

A: Accrued expense: This is the expense incurred but not yet paid. It is treated as liability until the…