The _____ adjusting entry increases expenses and increases liabilities.
A)prepaid rent
B)wages
C)depreciation
D)revenue received from customers in advance

Name: The _____ adjusting entry increases expenses and increases liabilities. A)prepaid rent B)wages C)depreciation D)revenue received from customers in advance
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Question

Quizplus · Accepted Answer

The wages adjusting entry increases expenses (wages expense) and increases liabilities (wages payable), reflecting the cost of employee services that have been incurred but not yet paid.

The _____ Adjusting Entry Increases Expenses and Increases Liabilities