Multiple Choice
How does a debit balance in the wages and salaries expense account affect a firm's income statement?
A) A debit balance will increase the expenses of the firm's income statement.This will increase the total expenses of the firm and decrease the net income of the firm.
B) A debit balance will decrease the expenses of the firm's income statement.This will increase the total incomes of the firm and decrease the net income of the firm.
C) A debit balance will increase the expenses of the firm's income statement.This will decrease the total expenses of the firm and increase the net income of the firm.
D) A debit balance will increase the income of the firm's income statement.This will increase the total expenses of the firm and increase the net income of the firm.
Correct Answer:

Verified
Correct Answer:
Verified
Q4: The purpose of the net pay and
Q42: In general,how are the expenses associated with
Q43: What does the term "billable time" mean
Q44: If a firm accrues the payroll due
Q45: In the following General Journal transaction,to what
Q46: The _ is the master document that
Q49: What is true about the trial balance?<br>A)It
Q50: Which of the following is an example
Q51: Why is it important to have columns
Q52: Supermeg Dry Cleaners had the following payroll