The account adjusted with a credit to set up accrued payroll is
A)Wages Expense
B)Wages Payable
C)Wages Receivable
D)Either A or B

Question

Quizplus · Accepted Answer

The account credited to set up accrued payroll is Wages Payable as it represents the amount of wages owed to employees at the end of an accounting period. Wages Expense is an expense account used to record the cost of employee salaries and wages paid during a specific period. Wages Receivable is not a common account in payroll accounting. Therefore, option B is the best choice.

The Account Adjusted with a Credit to Set Up Accrued