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
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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? *
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.
Transcribed Image Text: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.
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