Employees of Robert Rogers,CPA worked during the last two weeks of December.They received their paychecks on January 2.The matching principle would require that which of the following accounts appear on the balance sheet for December 31?
A) Accounts payable
B) Salaries payable
C) Salary expense
D) Prepaid expense

Question

Quizplus · Accepted Answer

Salaries payable should appear on the balance sheet for December 31 as the employees worked during the last two weeks of the month but did not receive their paychecks until January 2. This creates a liability that needs to be recognized on the balance sheet as of December 31 in accordance with the matching principle. The other options (A, C, D) are not relevant to this scenario.

Employees of Robert Rogers,CPA Worked During the Last Two Weeks