Which Of The Following Is An Example Of An Accrued Expense Adjusting Entry
Accrued Salaries / Salaried Payable / Outstanding Salaries Recording The Amount Of Salaries Expense / Wages Expense For Employees That Is Not Paid Yet When the employees performed their services during the month but still the payment is not paid to employees, then it creates a Liability ( Accrued Expense ) for the company / corporation to pay to employees for the services performed during the accounting period. In such case, the adjusting entry to record, according to Accrual Basis of Accounting , is shown below: Wages Expense a/c / Salaries Expense a/c XXX Wages / Salaries Payable a/c / Outstanding Wages / Salaries a/c XXX ...