Wages is salary. Its the same terminology
If you are talking about addition payments classed as expenses paid in to the (Wage/salary) then it depends if the amount is "claimed" is taxable -
If taxable the amount is shown as a subtotal before the wage/salary figure and then totalled then take and insurances/deductions then net paid
If its not taxable its goes on the end after taxes are removed and shown as net wage plus expense
The company is obliged to record either for tax purposes and for the annual accounts to reflect payments out on the balance sheet
There may be more than one way to record an expense. The easiest journal to think about is when you've used cash to pay for the expense. In that case, you would debit an expense account and credit cash. But, if you've received the benefit of an expense but have not yet paid for it the debit would still be the expense account but the credit would be a liability account. Of course, there are times when cash flows but no expense is recognized such as investments in property, plant and equipment. After that expenditure is made you would recognize periodic expenses in the form of depreciation. That would be a debit to depreciation expense and a credit to accumulated depreciation.
The bad debt is recorded against the asset, which is the debtors control account, or account recievable, for example company A is owed $1000 by company B, during the year, company B approaches company A and states that it is going out of business and can only pay them $600, therefore the bad debt is $400 Credit the debtors account of company b with $400 and debit bad debt expense $400
Under FAS 123, companies may continue to record options using the APB 25 intrinsic value method; But, they were required to disclosed in their footnotes what would have been the full expense effect of the options, calculated using the fair value method. Under FAS 123R, companies may no longer use the intrinsic value method. The end result is that companies that issue stock options will now have to record an expense for what they had previously only had to disclose. They are also required to record expense for any outstanding unvested options. In addition, FAS 123R no longer permits companies to account for forfeitures as they occur. Companies will be required to estimate their forfeiture rate and record expense net of estimated forfeitures. In other words, FAS 123 required disclosure, while FAS 123R required recognition.
There is no easily obtainable record of the Nationwide insurance company declaring bankruptcy. Currently, they are an active company, with enough profit to donate to charitable causes.
Bookkeepers used ink to record the money of a company. They use red ink for negative numbers and black ink for positive numbers. When a company is in the black it is making a profit.
Debit Salaries Expense, Credit Salaries Payable.
expenses are understated
[Debit] Salaries Expenses 2000 [Credit]Cash/Bank 2000
In a company "Payroll" is a sum of all financial record. it consist of salaries, wages, bonuses & deductions.
A payroll is a record of money a company pays to its employees. This record would include salaries, bonuses, and taxes deducted.
Dividend account is the account used to record money paid on stock such as common stock, this comes out of retained earnings. Expense accounts are expenses that the company has to maintain operation and come out of Revenue, before dividends are calculated. A company may choose to not pay dividends on stock for a year (or so) if the company's retained earnings do not meat a certain amount.
Though I have never heard the term "accrued vacation expense" nor have I ever heard of a "vacation" being a business expense, however, the journal entry would be handled like most "payables". So if your company uses the account of Accrued Vacation Expense, the journal entry should be something like....Vacation Expense (debit) $XXXAccrued Vacation Expense (credit) $XXXOnce the amount is paid, a debit would be recorded in the Accrued Vacation Expense account and a credit to Cash, to remove it from the books and note that the debt (or expense) has been met.
Record it as an expense.
cost effectiveness
Tax is an expense, you do not record it in a balance sheet but on the general journal.
Debit salaries expenseCredit cash / bank
Expense