Interested to Buy Any Domain ? << Click Here >> for more details...
Journal entry of outstanding wages is
Wages a/c dr
TO O/s wages a/c
In the Above journal entry why outstanding wages has to be
credited ? and o/s wages comes under which account, and why
(Personal, Real, Nominal)
- 7 Answers
- 31732 Views
- Capital IQ, I also Faced
- E-Mail Answers
Answer Posted / bhaskar unnikrishnan
Outstanding Wages has to be credited because it is
liability. (Debit all asset, Credit all liabilities). When
outstanding wages paid:
O/s Wages Debit
Cash Credit.
It will gradually reduce O/S Wages Balance.
| Is This Answer Correct ? | 38 Yes | 8 No |
Post New Answer View All Answers
what will be the possible question for an interview in account post as a fresher
what is lease accounting?? please explain me....
Follow up ageing balances of Debtors & Creditors and also Inventory
What is an ea in accounting?
What is the objective of the balance sheet?
What is the difference between perpetual and periodic inventory systems?
What is meant by turnover?
What is Debit Note and Credit Note? Subsidory Books? Minority Interest? Stock recording in P&L? Outstanding Expenses, Prepaid Expenses and Examples?
Time limit for payment of divident for listed limited companies & Unlisted public limited companies are? 30 or 45 or 60 or 90
At the time of advance tds deducted 2% contract which was wrong but when we adjusting the adavace tds deducting 10% rent how can we adjusting that amount
By saying, perpetual or periodic inventory system; what do we mean?
Contrast bookkeeping and accounting
cost of lease=20,000.refundable deposits 2000 (after 4 years).annuity value for 4 years @5% is .2820.find the net charge to p&l a/c
Hi, I am working at Himachal Pradesh, there we pay entry tax for purchase other state. but now govt decide this tax will be deposited with Sale Tax return, now my question is that where column i show this tax or which challn i deposit this tax
How Adjust The Amount Taken By Partners For Personal Use? Is The Entry For Drawings? Even If The Amt Exceed 5 Lakhs Or As Partners Loan If Its Not Recovered Even After 1 Year? Discribe All.
