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Prepaid wages refer to amounts paid to employees for work that has not yet been performed. This accounting concept typically appears as an asset on a company's balance sheet, reflecting a future obligation to provide services. Prepaid wages are often associated with situations where salaries are paid in advance, such as when employees are paid before the end of a pay period. Once the employees perform the work, the prepaid wages are then recognized as an expense.
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What liability account would hold the balance of wages due but not yet paid Wage Expense Prepaid Wages or Wages Payable?
Wages Payable Payable accounts holds amount owned but not yet paid.
What is a list of the Permanent Accounts in Accounting?
Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Wages Payable, Capital
List Prepaid expenses on balance sheet?
Prepaid Rent, Prepaid Insurance, and Prepaid Interest... maybe? Check it out on Investopedia.com
What is the difference between freight prepaid abroad and freight prepaid?
what is the difference between freight prepaid and freight prepaid abroad
What is journal entry for wages paid to raj?
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,...
What has the author Richard J Arnould written?
Richard J. Arnould has written: 'Wage-risk premiums and workmen's compensation' -- subject(s): Wages, Workers' compensation, Hazardous occupations 'A comparative cost study of staff panel and participating attorney panel prepaid legal services plans' -- subject(s): Prepaid legal services
What part of speech is prepaid?
"prepaid" is an adjective.
verizon cheap prepaid and refillable cards and for my gusto prepaid and mobile phone?
verizon prepaid and cheap cards and for my mobile prepaid and gusto mobile phone
Can the lg neon be prepaid?
yes this phone can be prepaid
Can a iPhone 5 be prepaid?
Yes, an iPhone 5 can be prepaid. You need to find a phone company that has prepaid plans.
What is a sentence for prepaid?
My prepaid calling card is almost out of minutes. We cannot miss the movie tonight, the tickets are prepaid.
Can you put a prepaid sim card in a contract phone and it will be prepaid?
Yes you can. . . .for example you can put a at&t prepaid go phone SIM into an at&t contract phone and it will still be prepaid.
