McNeil Company owed its employees for services performed and recorded a liability for the wages...
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Accounting
McNeil Company owed its employees for services performed and recorded a liability for the wages owed the employees. Which of the following correctly describes the impact on the financial statements when the employee wages are subsequently paid? Multiple Choice Operating expenses are increased. Retained earnings decreases. Income from operations does not change. Total assets remain the same.
McNeil Company owed its employees for services performed and recorded a liability for the wages owed the employees. Which of the following correctly describes the impact on the financial statements when the employee wages are subsequently paid?
Multiple Choice
Operating expenses are increased.
Retained earnings decreases.
Income from operations does not change.
Total assets remain the same.
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