Db wage expense Cr cash
debit wages
credit cash
debit installation chargescredit bank
[Debit] Machinery Asset [Credit] Cash Account
debit wages payablecredit cash
[Debit] wages Expenses 1000 [Credit] Cash 1000
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) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...
Db wage expense Cr cash
debit installation chargescredit bank
[Debit] Machinery Asset [Credit] Cash Account
debit wages payablecredit cash
debit wages expensescredit wages payable
[debit] wages expensescredit cash / bank
Debit wages expensesCredit cash / bank
[Debit] wages Expenses 1000 [Credit] Cash 1000
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of...Though I honestly never heard of a company paying a Salary in advance, the journal entry would be: Prepaid Salary (debit) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...
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 accounting, such wages must be accrued in the period earned regardless that they are paid in a subsequent period.
[Debit] Tax paid [Credit] Cash / bank
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.