Which of the following financial report(s)reflect the effects of debit and credit General Journal entries used in payroll accounting? (You may select more than one answer. )
A)Income Statement
B)Trial Balance
C)Balance Sheet
D)Labor Distribution Report

Question

Quizplus · Accepted Answer

General Journal entries for payroll accounting affect the Income Statement (expenses), the Trial Balance (summarizes all accounts), and the Balance Sheet (liabilities and assets). The Labor Distribution Report is not a financial statement.

Which of the Following Financial Report(s)reflect the Effects of Debit