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olga2289 [7]
2 years ago
10

A company recognized an accrued salary expense in Year 1 and paid its employees in Year 2. The financial statements affected in

Year 2 are the ______.
Business
1 answer:
Volgvan2 years ago
8 0

Answer:

Statement of Financial Position and Cash Flow Statement.

Explanation:

Year 2

<em>1. Statement of Financial Position</em>

Decrease the Liability : Salaries Owing

Decrease the Assets : Cash

<em>2. Cash Flow Statement</em>

Decrease in Liability : Cash Outflows

<em>3. Income Statement</em>

No Effect

<em>4. Statement of Changes in Equity</em>

No Effect

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