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Explain why gross earnings not net pay is debited to the salaries expense account?
Wiki User
∙ 13y ago
Gross earnings are deducted from the salaries expense rather than the net pay because the amounts withheld are liabilities to the company and get paid every quarterly period.
Wiki User
∙ 13y ago
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What account is debited when a stock dividend is declared and distributed on the same date?
Retained earnings
Does retained earnings have a debit balance?
Retained Earnings normally has a credit balance. Net loss will be debited to Retained Earnings account thus results to a debit balance. Retained Earnings with a debit balance will be called as 'Deficits" or "Accumulated Deficits".
Is debited a deduction?
yes debited is a deduction from the account as it only taked whats int your account out if you have enough
When the seller is paid the customer's account is.credited or debited?
debited
When December rent is paid in November which account is debited?
Prepaid Rent is debited.
When December rent is paid in November to which account is it debited?
Prepaid Rent is debited.
What is debited?
It is something that is entered into an account as a debt
Can your bank account be debited without you being told?
NO.
When a comapany pays a bill the cash account WILL BE?
Debited.
What account is credited when a debit card is used to pay cash on account?
It is your checking account , but it is debited, not credited.
When a business makes a sale on account which account is debited in the accounting entry?
Cash book
Do debit cards debit your account?
Yes, your account is debited when you use a debit card.
