Wages Payable, or Payroll Liabilities. Also, classifies as Capital Expense.
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
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.
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.
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
[Debit] wages Expenses 1000 [Credit] Cash 1000
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
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.
Assets
Wages Expenses comes under "Cash flows from operating activities" and are part of net profit from operations.
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.
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
[Debit] wages Expenses 1000 [Credit] Cash 1000
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.
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!)
generally, payments to employees or their dependents for medical or hospital expenses in connection with a sickness or accident disability aren't considered wages
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
Examples of outstanding expenses include unpaid salaries or wages, accrued interest on loans or credit, unpaid rent or utilities, and unpaid taxes. These expenses have been incurred but have not yet been paid for or recorded in the financial statements.