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A company reported the following information. Income Tax Payable 106 Beg. Bal (a) 660 86 End. Bal. Salaries and Wages Payable 1,000 Beg. Bal. 23,000
A company reported the following information. Income Tax Payable 106 Beg. Bal (a) 660 86 End. Bal. Salaries and Wages Payable 1,000 Beg. Bal. 23,000 ? 1,200 End. Bal Interest Payable 146 Beg. Bal 1,060 156 End. Bal. Required: 1-a. For income tax payable, describe the typical transactionss that cause it to increase and decrease. (Select all that apply.) Decrease with a debit for cash paid on accrued income taxes payable. Increase with a credit for cash paid on accrued income taxes payable. Increase with a credit for accnual of additional income taxes payable. Decrease with a debit for accrual of additional income taxes payable. 1-b. For interest payable, describe the typical transactions that cause it to increase and decrease. (Select all that apply.) Decrease with a debit for accrual of additional interest payable. Decrease with a debit for cash paid on accrued interest payable Increase with a credit for cash paid on accrued interest payable. Increase with a credit for accrual of additional interest payable. 1-c. For salaries and wages payable, describe the typical transactions that cause it to increase and decrease. (Select all that apply.) Decrease with a debit for accrual of salaries and wages expense for the period that is not yet paid. |Increase with a credit for accnual of salaries and wages expense for the period that is not yet paid. Decrease with a debit for cash paid on accrued salaries and wages payable. Increase with a credit for cash paid on accrued salaries and wages payable
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