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Question 9 The payroll clearing account is an account used: ? as a special bank account for employees salaries and wages ? as an account to record the gross pay of an employee ? to record the net amount owing to the employees ? to close the salaries and wages account to the income summary account 1 pts

          Question 9
The payroll clearing account is an account used:
? as a special bank account for employees salaries and wages
? as an account to record the gross pay of an employee
? to record the net amount owing to the employees
? to close the salaries and wages account to the income summary account
1 pts

Question 9
The payroll clearing account is an account used:
? as a special bank account for employees salaries and wages
? as an account to record the gross pay of an employee
? to record the net amount owing to the employees
? to close the salaries and wages account to the income summary account
1 pts

Added by James R.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Akash M

10/05/2023

Step 1

Step 1: A payroll clearing account is a temporary account used to hold the net pay of employees before it is transferred to their individual bank accounts. Show more…

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Question 9 The payroll clearing account is an account used: Oas a special bank account for employees salaries and wages Oas an account to record the gross pay of an employee Oto record the net amount owing to the employees Oto close the salaries and wages account to the income summary account 1 pts