Question

johna's plant nursery pays the salaries of its two employees. how will this transaction affect the accounting equation? check all that apply.

Answer 1

johna's plant nursery pays the salaries of its two employees. this accounting effect the transaction are. Salaries expenses will be increased; Equity will be decreased.

Debiting the salary paid in the journal entry above removes the liability for the salary paid on the balance sheet. During the actual payment of salaries, certain salary amounts may have been incurred but not reflected in unpaid salaries, resulting in payroll expense debits.

Business expenses are liabilities and expenses that a company must pay. If the business assets are not enough to cover the liabilities, the company loses money. Assets Business assets are valuable items that a company uses to meet its liabilities and generate profits.

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