Which of the following describe the Salaries payable account? (Check all that apply.)Which of the following describe the Salaries payable account? (Check all that apply.) Multiple select question. It is reported on the income statement. 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 credit.
Which of the following describe the Salaries payable account? (Check all that apply.)Which of the following describe the Salaries payable account? (Check all that apply.) Multiple select question. It is reported on the income statement. 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 credit.
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 2EB: For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and...
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Which of the following describe the Salaries payable account? (Check all that apply.)Which of the following describe the Salaries payable account? (Check all that apply.) Multiple select question.
It is reported on the income statement.
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 credit.
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