Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

When an employee works in year 1 but is paid in year 2, the company must recognize an expense in year(s) _____

Sagot :

When an employee works in year 1 but is paid in year 2, the company must recognize an expense in year(s):

  • There is no income statement affect in Year 2
  • There is no cash flow affect in Year 1
  • both an expense and liability are recorded in Year 1

What is income statement?

A company's financial performance over a certain accounting period is reported using three primary financial statements: the balance sheet, the statement of cash flows, and the income statement.

The income statement, which is often referred to as the profit and loss statement (P&L) or the statement of revenue and expense, is primarily concerned with the company's revenue and expenses for a specific time period.

Knowing how to study an income statement is the greatest approach to evaluate a firm and determine whether you should invest.

Learn more about income statement

https://brainly.com/question/15169974

#SPJ4

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.