sahgirl16
Feb 10, 2010, 09:16 PM
An accrual of wages expense would produce what effect on the balance sheet?
morgaine300
Feb 12, 2010, 07:03 PM
ALL accrued expenses debit the expense and credit a payable.
Accrued expenses are those which have been incurred but not yet paid; hence, you recognize the expense but also have to record the payable since it hasn't yet been paid.
So what effect does that have on the balance sheet?