Question

It is the end of the year but not the end of the pay period. How will this affect the balance sheet?

Question 10 options:

Assets will be increased.

This has no effect on the period-end balance sheet.

Liabilities will be increased.

Owner's equity will be increased.

Answer 1

its liabilities will be increased because i took the test and the other 3 options were wrong.

Step-by-step explanation:

Answer 2

This has no effect on the period-end balance sheet.

Step-by-step explanation:

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

According to the question asked the balanced sheet was prepared before the pay period came so this effect will not affect the balance sheet.