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Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of accounting, such wages must be accrued in the period earned regardless that they are paid in a subsequent period.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agodebit wages expenses
credit wages payable
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What is the closing journal entry of the wages?
debit wages payablecredit cash
What is the Journal entry for outstanding rent paid?
outstanding rent
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
What is the adjusting entry for wages posted twice?
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of... entry is wages expenses are credit and outstanding wages are credit.
What is the journal entry for outstanding salaries?
outstanding salaries a/c....................dr to outstanding expenses
What is the journal entry for outstanding wages?
debit wages expensescredit wages payable
What is the closing journal entry of the wages?
debit wages payablecredit cash
What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
What is Journal entry for record of wages?
[debit] wages expensescredit cash / bank
What is Journal entry record of wages?
Debit wages expensesCredit cash / bank
What is the Journal entry for outstanding rent paid?
outstanding rent
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
What is the adjusting entry for wages posted twice?
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of... entry is wages expenses are credit and outstanding wages are credit.
What is the journal entry for outstanding salaries?
outstanding salaries a/c....................dr to outstanding expenses
What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
What is journal entry for wages paid to raj?
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of...Though I honestly never heard of a company paying a Salary in advance, the journal entry would be: Prepaid Salary (debit) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...
What is the journal entry for trading stock given as part of wages?
debit wages expensecredit shares in share capital
