How do adjusting entries for accrued expenses affect liabilities and expenses?.

Explanation:

Understanding Accrued Expenses

Since accrued expenses represent a company's obligation to make future cash payments, they are shown on a company's balance sheet as current liabilities. ... Following the accrual method of accounting, expenses are recognized when they are incurred, not necessarily when they are paid.

explanation:

actually, not all representation was acceptable based on this little piece of article, in 1776, the second continental congress issued the declaration of independence, stating their specific grievances with the british monarchy and why they were going to create a separate government. after the colonies separated from the british monarchy and formed the united states of america, they had to answer some crucial questions: 1) if not a monarchy, what type of government was the united states going to have? 2) what kind of government was going to protect the people without violating their individual liberties?