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Wages Payable goes into balance sheet under liability and wages expenses shows under income statement.
Wages Expenses
Wages Payable
Income Statement
Wages Expanses
Now in these entries wages payable remains still to be closed so it goes to balance sheet until payment.
When payment settled
Wages Payable
Cash/Bank/Goods etc
What else can I help you with?
Where does accounts payable go on a multiple step income statement?
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
Does bills payable go on the income statement?
Answer:No. The income statement shows revenues and expenses. Bills payable is a liability (the company has an obligation to pay), and is included on the credit (right) side of the balance sheet.
Does accounts payable go on the income statement?
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
Do accounts payable go on an income statement?
No they belong under the liabilities section on a Balance Sheet
Where does Trade accounts payable go balance sheet or income statement?
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
Where do wages payable go on a statement of cash flows?
Wages payable goes on the "cash flows from operating activities" Either as an add or deduct to net income (when using the indirect method)
Where does accounts payable go on a multiple step income statement?
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
Does bonds payable go to balance sheet or income statement?
deductions
Where did loan interest payable go in the income statement?
Loan interest payable is not shown in income statement rather it is shown in liability side of balance sheet in current liability section.
Does bills payable go on the income statement?
Answer:No. The income statement shows revenues and expenses. Bills payable is a liability (the company has an obligation to pay), and is included on the credit (right) side of the balance sheet.
Where does sales commission payable go on the multiple step income statement?
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
Does accounts payable go on the income statement?
No, it is a Liability and will thus be presented on the Balance Sheet (Statement of Financial Position)
Where does sales commission payable go on the multiple-step income statement?
I didn't even get an answer
Do income taxes payable go on an income statement?
1. Income tax payable is the liability which is to be paid in future that;s why it will be shown in balance sheet liability side under current liabilities.
Do accounts payable go on an income statement?
No they belong under the liabilities section on a Balance Sheet
Do accruals go in the income statement?
It depends on transactions all receivables and payable are part of balance sheet while actual revenue or expense in part of income statement.
Where does Trade accounts payable go balance sheet or income statement?
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
