Karl Company accrued wages of $7,650 that were earned by employees unpaid at the year-end. Assuming Karl uses reversing entries, which of the following entries correctly reverses the accrued wages at the beginning of the following year? Multiple Choice Debit Wages Expense $7,650; credit Wages Payable $7,650. Debit Wages Payable $7,650: credit Wages Expense $7,650. Debit Wages Payable $7,650: credit Cash $7.650. Debit Cash $7,650, credit Wages Expense $7,650. If the liabilities of a company increased $76,000 during a period of time and equity in the company decreased $20,000 during the same period, what was the effect on the assets? Multiple Choice Assets would have increased $56,000. Assets would have decreased $56,000. Assets would have increased $96.000. Assets would have decreased $96.000