On December 31,2019,salaries owed to employees total $4,050.These will be paid on January 4,2020.An adjusted trial balance prepared on December 31,2019,includes which of the following?

Question

Quizplus · Accepted Answer

The salaries owed to employees are considered a liability for the company until they are paid. Therefore, the account that represents this liability is Salaries Payable. On the other hand, the cost of these salaries for the company is recorded as Salaries Expense. 
Since the salaries were owed at the end of December, they should be recorded in the adjusted trial balance as Salaries Expense, $4,050, and Salaries Payable, $4,050, because they will be paid in the following year.

On December 31,2019,salaries Owed to Employees Total $4,050