On December 31, 2016, Gaskins Co. owed $4,500 in salaries to employees who had worked during December but would be paid in January. If the year-end adjustment is properly recorded on December 31, 2016, what will be the effect of this accrual on the following items for Gaskins?
A. Option A
B. Option B
C. Option C
D. Option D
Answer:B
On December 31, 2016, Gaskins Co. owed $4,500 in salaries to employees who had worked during December but would be paid in January. If the year-end adjustment is properly recorded on December 31, 2016, what will be the effect of this accrual on the following items for Gaskins?
A. Option A B. Option B C. Option C D. Option D