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All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
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Is wages expense credit or debit?
Debit, debit increasing wages
Is wages and salaries expenses on a normal balance account considered a debit or credit?
Wages and salaries both are expenses to the company and like all expenses normal debit balance these accounts also have debit balance as their normal balance.
What would a journal entry to record the payroll include?
debit payroll expensescredit cash / bank
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.
What is the journal entry for wages paid?
Db wage expense Cr cash
Is wages due debit or credit?
wages is expense and expense is debit salary is income and income is credit
Is wages expense credit or debit?
Debit, debit increasing wages
Is salary an expense or expenditue?
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. If need any further information please ask. Andrew Swift
Is wages and salaries expenses on a normal balance account considered a debit or credit?
Wages and salaries both are expenses to the company and like all expenses normal debit balance these accounts also have debit balance as their normal balance.
What is the jounal entry to after-the-fact payroll where all taxes have been paid?
Debit - Payroll (Wages) - for the amount of the total gross wages. Debit - Payroll Tax Expense - for the amount of the EMPLOYER taxes. Credit - Cash
What is the journal entry for outstanding wages?
debit wages expensescredit wages payable
What would a journal entry to record the payroll include?
debit payroll expensescredit cash / bank
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.
What is the journal entry for wages paid?
Db wage expense Cr cash
Does Texas law allow judgments by the courts to garnish wages for credit card debt?
Yes, Texas allows garnishment of wages for credit card debit
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 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,...
