If the last wages bill for the year is paid on June 27 and P100,000 is owing at June 30 in unpaid wages, what will happen? The P100,000 would appear in the balance sheet but it would not be included in the expenses for the year The P100,000 would appear in the balance sheet but it would be included in the expenses for the year The P100,000 would not be included in either the balance sheet or the income statement The P100,000 would appear as an expense in the income statement but would not appear in the balance sheet.

If the last wages bill for the year is paid on June 27 and P100,000 is owing at June 30 in unpaid wages, what will happen? The P100,000 would appear in the balance sheet but it would not be included in the expenses for the year The P100,000 would appear in the balance sheet but it would be included in the expenses for the year The P100,000 would not be included in either the balance sheet or the income statement The P100,000 would appear as an expense in the income statement but would not appear in the balance sheet.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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