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what is the journal entry of outstanding wages ?
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Answer Posted / eklavyaoffinance
Wages A/c Dr.
To Outstanding Wages A/c
(Explanation : If it had been entry for "wages paid" , we
would debit "Wages A/c" and credit "Cash A/c". But since
here wages are not actually paid (by cash) "Outstanding
Wages A/c" will have to be credited instead of "Cash A/c" .
Note : here "Outstanding Wages A/c" is a Personal Account
and "Wages A/c" is a Nominal Account.
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