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Salaries is recorded as a debit entry in the wages account, so it is classed as an expense.
Wages are recorded in the nominal ledger or ( general Ledger ) it is classed as a debit entry because the bank/cash book is credited think of debit as in and credit as out.
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Andrew Swift
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Why salary should be classified as a selling expense?
only salaries of employees engaged in selling can be classified as selling expense..salary of salesperson,saleslady,salesman,sales supervisor are the examples that fall under selling expense..it is classified as selling expense, simply because the expense occurred in selling department.
The presidents salary and expense allowance equal?
$450,000
What does the term essential expense mean in financial terms?
An essential expense is an expense that is necessary, for example rent or salary. It is something that cannot be gotten rid of or trimmed.
Is salary a capital expense?
No, salary is not considered a capital expense. Capital expenses pertain to long-term investments in physical assets, such as equipment or property, that provide benefits over multiple years. Salaries, on the other hand, are classified as operating expenses, as they are regular costs associated with the ongoing operation of a business.
Which amount should a company record as wages or salaries expense?
Wages is salary. Its the same terminology If you are talking about addition payments classed as expenses paid in to the (Wage/salary) then it depends if the amount is "claimed" is taxable - If taxable the amount is shown as a subtotal before the wage/salary figure and then totalled then take and insurances/deductions then net paid If its not taxable its goes on the end after taxes are removed and shown as net wage plus expense The company is obliged to record either for tax purposes and for the annual accounts to reflect payments out on the balance sheet
Is salary an expense?
Yes. No , Its not a Expense. Its an Asset.
What account type is salary?
Salary is an expense for business and that's why shown under income statement as an expense.
What is the journal entries for paying employee salary?
Salary expense
Which would not be a an expense for a candidate running for a national office?
Salary for the candidate would not be an expense since the candidate does not receive a salary.
.Which would not be an expense for a candidate running for a national office?
Salary for the candidate would not be an expense since the candidate does not receive a salary.
Which would not be an expense for a candidate running for national office?
Salary for the candidate would not be an expense since the candidate does not receive a salary.
Is salary expense a debit?
it is a credit
What is the journal entry for accrued expense?
basic salary 21967 / salary of September
What is the journal entry for salary?
[Debit] Salary expense [Credit] Cash / bank
What is the journal entry for salary not paid?
[Debit] Salary Expense xxxx [Credit] Salary payable xxxx
What is salary expense debit or credit?
You are a homosapien
What are expenses such as heat light and salary called?
Salary is not an expense. -Please re-write so it makes a logical query.
