Salary expense has been incurred but not yet paid to employees will be: a. Added to partners' capital b. Added to share of profits of partners c. Added to current assets in the balance sheet d. Added to corresponding expense in the income statement
Salary expense has been incurred but not yet paid to employees will be: a. Added to partners' capital b. Added to share of profits of partners c. Added to current assets in the balance sheet d. Added to corresponding expense in the income statement
Chapter10: Partnerships: Formation, Operation, And Basis
Section: Chapter Questions
Problem 8DQ
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Question
Salary expense has been incurred but not yet paid to employees will be:
a.
Added to partners' capital
b.
Added to share of profits of partners
c.
Added to current assets in the balance sheet
d.
Added to corresponding expense in the income statement
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