Subjects>Law & Government>United States Government

How do you put the payroll on a balance sheet?

Anonymous

∙ 15y ago

Updated: 11/10/2022

Payroll expenses account goes to Profit & Loss account while Payroll payable is a Balance Sheet Liability item... Journal entry:

Payroll Expense Account - DR ...........(P&L)
Payroll Payable Account - CR ............(B/S)

Wiki User

∙ 15y ago

What else can I help you with?

Where do you put the accrued income taxes on the balance sheet?

Under the liabilities section of the balance sheet?

Do you put GST or HST on the balance sheet?

HST paid goes on the credit side or expenses on the balance sheet

Where on the balance sheet do you put a deficit?

Retained Earnings

Where do put drawings in a balance sheet?

asset side

Where are accruals put on the balance sheet?

Current liabilities.

Where do you put retained earnings on a balance sheet?

liability

Do you put cash value of life insurance on the balance sheet?

No.

Were do put long term notes payable on the balance sheet?

Long term = non current Payable = liability Therefore, I would put it under the Non-Current Liabilities heading in the balance sheet.

Where do you put notes payable on a balance sheet?

In the liability section of the balance sheet. Generally showing short terms portions separately from long term portions.

Where to put deferred tax assets in the balance sheet?

Defferred tax asset is shown in assets side of balance sheet under head of other assets.

Is Loan on balance sheet or off balance sheet?

Loan is on balance sheet

Difference between on balance sheet financing and off balance sheet financing?

In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.

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