Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Which of the following entries could be considered as an adjusting entry? Group of answer choices Debit to Cash and Credit to Revenues Debit to Cash and Credit to Liabilities Credit to Cash and Debit to Expenses Debit to Expenses and Credit to Liabilities

Sagot :

anthougo

Answer:

The entry that could be considered as an adjusting entry is:

Debit to Expenses and Credit to Liabilities

Explanation:

For example, to accrue salaries expenses in an accounting period when the cash payments have not been made, the Salaries Expenses account is debited with the amount of the unpaid salaries while the corresponding credit entry goes to the Salaries Payable account.  Depreciation expense is also debited while the corresponding credit entry is made in the accumulated depreciation account.

We appreciate your time. Please come back anytime for the latest information and answers to your questions. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.