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can you express the following into a register transaction: Overall Impact of adding time cards to the accounting system: Balance Sheet: Assets: No direct impact,
can you express the following into a register transaction: Overall Impact of adding time cards to the accounting system: Balance Sheet: Assets: No direct impact, assuming all salaries and wages are expensed in the period. Liabilities: No direct impact. Equity: Reduced by the total labor expenses incurred. Income Statement: Total Expenses: Increased due to the labor expenses of all employees. Job Cost Ledger: Various job codes will have corresponding debits for the labor expenses. Equipment Ledger: No impact if no employees work on the equipment
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