Home › Enrolled Agent (SEE) › Accounting › Adjusting Entries › Salaries earned by staff but unpaid at period en…
Salaries earned by staff but unpaid at period end are an example of accrued:
AExpenses
BExports
CExcises
DExtracts
Answer & Solution
Correct answer: A. Expenses
1. The cost was incurred during the period.
2. No payment has been made and nothing recorded.
3. That is an accrued expense.
_Source: OpenStax Principles of Financial Accounting, Chapter 4, The Adjustment Process._
Related questions
A trial balance is prepared before adjustments, after adjustments and after:A contra asset account such as Accumulated Depreciation increases with a:Cash received in January for printing to be done later was recorded by the company as a:An accountant should remember that the book value of an asset is not necessarily its:Book value of equipment is found by taking original cost and subtracting accumulated:Accumulated Depreciation sits against an asset account, so its normal balance is on the:Spreading the cost of equipment systematically across the periods it serves is called:Interest earned but not yet received or recorded is an example of accrued: