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Salaries expense -can be paid or unpaid while salaries payable is finally pay the salaries...

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What is the difference between salaries payable and salaries expense?

Gross earnings are recorded as Salaries Expense. It encompasses the employees net pay and all withholdings (income tax, FICA). If the employee is to be paid at the time the entry is made, you would credit cash for the amount of the net pay. If the employee is to be paid at a later date (probably within the current year or operating cycle), then you would instead credit Salaries Payable. When the employee is finally paid, you would debit salaries payable and then credit cash.


What is the difference between a gross profit and net income?

Gross profit is the total money you made. Net income is what is left of that money after you pay all your expenses: Heat, light, employee salaries, insurance, etc.


What is difference between expenses and losses?

A business (company or individual) earns money - called earning or revenue. To earn this, the entity incurs expenses - such as material, salaries, telecom costs. When you subtract the expenses from the revenue, the result is called 'profit', if it is positive, and 'loss', if negative. So the difference is - expenses are the costs incurred by a business, and loss is the difference between earnings and expenses, (if expenses are more than revenues).


What is the difference between salary and payroll?

Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed.pay roll: Definition: The administration of the financial record of employees' salaries, wages, bonuses, net pay, and deductions


How do you record accrued salaries?

Debit Salaries Expense, Credit Salaries Payable.

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What is difference between wages and salaries?

Salary slip is a piece of paper given to a person or employee, it state how much money he/she is being paid.Payroll is a list of people or employees being paid by company.


What is the difference between salaries payable and salaries expense?

Gross earnings are recorded as Salaries Expense. It encompasses the employees net pay and all withholdings (income tax, FICA). If the employee is to be paid at the time the entry is made, you would credit cash for the amount of the net pay. If the employee is to be paid at a later date (probably within the current year or operating cycle), then you would instead credit Salaries Payable. When the employee is finally paid, you would debit salaries payable and then credit cash.


3 similarities between wages and salaries?

Ok


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Lyle is concerned about the difference between a companys salaries for its white workers and its colombian workers. in order to place economic pressure on the company what does lyle need to do?

plan a boycott or a strike -apex


Is there a lot of difference in the salaries between expatriates and locals in Bahrain?

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