Question: Please explain this correcting jounral entry: Debit Accrued Liability $100 Credit Employee Benefit Expense $100 This entry was to correct a payroll error. Can you
Please explain this correcting jounral entry:
Debit Accrued Liability $100
Credit Employee Benefit Expense $100
This entry was to correct a payroll error. Can you please explain is this getting rid of an benefit expense it did not need? Or is this being entered in order toadd in a missed prior amount from somewhere along the way? Please explain what is happening with this journal enty,
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
