Of the following adjusting entries, which one results in an increase in liabilities and the recognition of an expense at the end of an accounting period?
A) The entry to accrue salaries owed to employees at the end of the period.
B) The entry to record revenue earned but not yet collected or recorded.
C) The entry to record earned portion of rent previously received in advance from a tenant.
D) The entry to write off a portion of unexpired insurance.

Question

Quizplus · Accepted Answer

Accruing salaries owed increases liabilities (salaries payable) and recognizes an expense (salaries expense) for the period.

Of the Following Adjusting Entries, Which One Results in an Increase