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Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is the purpose of preparing a Control Account?
They check the accuracy of the ledger accounts that they control and help to detect fraud.
What are the types of Control Account?
sales control account purchases control account
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What is the purpose of doing the calculation Beginning salaries and wages payable PLUS Salaries and wages expense MINUS cash payments to employees EQUALS Ending salaries and wages payable?
The main purpose of this calculation is to find the salary and wages payable liability to show in the liability side of the balance sheet.
Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is the purpose of preparing a Control Account?
They check the accuracy of the ledger accounts that they control and help to detect fraud.
Why is spreadsheet referred to as general purpose package?
A general purpose application is one that can be used to do many things that some other specialised packages can do. There are specific accounts packages, specific wages packages, specific stock control packages etc. Each of these are specifically designed to do those individual tasks only and make it easier to do them. However you cannot use them to do the task of another. So a stock control package cannot do wages or accounts. A spreadsheet can be used to do any of these activities. So it is general purpose. However, there is more work involved to do wages or accounts or stock control in a spreadsheet as it is not specifically designed to do them. If you are skilled at using a spreadsheet and know how to do wages or accounts or stock control, then you could use it to do those kinds of job.
What is general purpose application package?
A general purpose application is one that can be used to do many things that some other specialised packages can do. There are specific accounts packages, specific wages packages, specific stock control packages etc. Each of these are specifically designed to do those individual tasks only and make it easier to do them. However you cannot use them to do the task of another. So a stock control package cannot do wages or accounts. A spreadsheet can be used to do any of these activities. So it is general purpose. However, there is more work involved to do wages or accounts or stock control in a spreadsheet as it is not specifically designed to do them. If you are skilled at using a spreadsheet and know how to do wages or accounts or stock control, then you could use it to do those kinds of job.
Which liability account would hold the balance of wages due but not yet paid?
Wages payable account is shown under liability section for those wages which are due but not yet paid
What is the journal entry of a repayment of a loan 2000 debited in error to wages account?
Debit Loan account 2000 Credit Wages account2000
What is the purpose of association?
to hold down wages
What are the types of Control Account?
sales control account purchases control account
What is generalized application packages?
A general purpose application is one that can be used to do many things that some other specialised packages can do. There are specific accounts packages, specific wages packages, specific stock control packages etc. Each of these are specifically designed to do those individual tasks only and make it easier to do them. However you cannot use them to do the task of another. So a stock control package cannot do wages or accounts. A spreadsheet can be used to do any of these activities. So it is general purpose. However, there is more work involved to do wages or accounts or stock control in a spreadsheet as it is not specifically designed to do them. If you are skilled at using a spreadsheet and know how to do wages or accounts or stock control, then you could use it to do those kinds of job.
What is the purpose of the user account control in Microsoft Windows?
"User account control, more commonly known as U.A.C. was added to Windows as a security measure. U.A.C. helps to prevent unauthorized access to your computer which without having could put your computer at risk of infection or unauthorized use."
What are the different type of control account?
sales control account purchases control account
The term real wages refers to wages that are?
an indication of an individual's actual purchasing power.
