Expenses sometimes make their contribution to revenue in a different period than when the expense is paid. When wages are incurred in one period and paid in the next period, this often leads to which account appearing on the balance sheet at the end of the time period?
A) Due from Employees
B) Due to Employer
C) Wages Payable
D) Wages Expense

Question

Quizplus · Accepted Answer

Wages that are incurred but not yet paid by the end of the accounting period are recorded in the Wages Payable account, which is a liability account that appears on the balance sheet. This account represents the amount owed to employees for their work in the current period that will be paid in the future. Choices A, B, and D are not applicable in this scenario.

Expenses Sometimes Make Their Contribution to Revenue in a Different