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Is wages and salaries expense a debit or credit?
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
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 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 that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
What is the journal entry when Anna paid her receptionist 1000 in wages for the period January 16 through January 27?
[Debit] wages Expenses 1000 [Credit] Cash 1000
Is wages and salaries expense a debit or credit?
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
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.
Where does inventory belong in the elements of financial statements?
Assets
Where does Wages Expense go on Statement of Cash Flow?
Wages Expenses comes under "Cash flows from operating activities" and are part of net profit from operations.
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 that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
What is the journal entry when Anna paid her receptionist 1000 in wages for the period January 16 through January 27?
[Debit] wages Expenses 1000 [Credit] Cash 1000
what account does personal expenses belong?
Personal expenses typically belong to the owner's equity account in a business's financial records. They are often categorized under drawings or withdrawals if the business is a sole proprietorship or a partnership. These expenses reflect the owner's personal use of business funds and should be tracked separately from business expenses to maintain accurate financial reporting.
What is the difference between selling expenses and general expenses?
Selling expenses are those expenses which incurred to selling of services and goods for example market research, sales man salary, and advertising. And other hand general expenses are those expenses which incurred general base in production for example interest charge, services charges, wages and rent are included.
Is wages payable is an example of an expense?
Well, yes ...but, there are different kinds of expenses: operational expenses, such as a payroll are not the same as, say, capital expenses, such as buying a large piece of equipment. Capital expenses are writable (taken off taxes) while many operational expenses are not (marketing and advertising expenses, for example, are).-InThree21 (B.A. Business; maybe an MBA could have a better answer!)
What conditions exclude sick pay from the definition of wages for fica tax purposes?
generally, payments to employees or their dependents for medical or hospital expenses in connection with a sickness or accident disability aren't considered wages
How do you charge indirect wages in manufacturing account?
that is the order of manufacturing account Direct materials + Direct wages + Direct expenses (like loyalty fees) = prime cost Production overheads = indirect wages, depreciation Non Production overheads = like Work in progress
