debit installation charges
credit bank
debit wages payablecredit cash
Db wage expense Cr cash
[Debit] Machinery Asset [Credit] Cash Account
debit payroll expensescredit cash / bank
[Debit] wages Expenses 1000 [Credit] Cash 1000
debit wages payablecredit cash
debit wages expensescredit wages payable
[debit] wages expensescredit cash / bank
Debit wages expensesCredit cash / bank
debit wages expensecredit shares in share capital
Db wage expense Cr cash
Debit Loan account 2000 Credit Wages account2000
Db wage expense Cr cash
[Debit] Machinery Asset [Credit] Cash Account
debit payroll expensescredit cash / bank
[Debit] wages Expenses 1000 [Credit] Cash 1000
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,...