On December 31, 2012, salaries owed to employees total $4,150. These will be paid on January 4, 2013. An adjusted trial balance prepared on December 31, 2012, includes which of the following?

Question

Quizplus · Accepted Answer

Salaries owed to employees that haven't been paid yet are recorded as Salaries Payable, so the adjusted trial balance should include Salaries Payable of $4,150. Salaries Expense is an income statement account and should have already been recorded throughout the period as the salaries were earned. Unearned Salaries is not applicable in this situation since no salaries were collected in advance.

On December 31, 2012, Salaries Owed to Employees Total $4,150