what is the journal entry of outstanding wages ?
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Answer / ajay
guys just check out ans no 25 it solve all your accounting
worries
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / surjit singh
WAGES A/C DR
TO OUTSTANDING WAGES A/C
NARRATION BEING WAGES DUE FOR THE M/O
WHEN PAID
OUTSTAINDING WAGES A/C DR
TO CASH/BANK
NOTE WAGES A/C IS NOMINAL A/C ANY INCREASE IN IT IS DEBIT
AS ILLUSTRATED ABOVE,ANY INCREASE IN LIABILITY IS A CREDIT
IT REFLECTS ABOVE,BUT MY POINT IS O/SALARY A/C IS A
PERSONAL A/C RULE IS DEBIT THE RECEIVER CREDIT THE GIVER
IN THIS CASE SOME GROUP OF PERSONS SAY RAM SHYAM GOPAL HAS
RENDERD SERVICES TO COMPANY WITH NO BENEFIT TAKEN,SO THEY
ARE OBVIUOSLY IN CREDIT SIDE ACCORDING TO RULE CREDIT THE
GIVER REMEMBER ANY INCRESE IN ASSET AND EXP IS DEBIT AND
INCRESE IN LIABITYS AND INCOMES ARE CREDIT.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / dinesh silswal
Wages A/c Dr.
Employer Contribution to E.SI. A/c Dr.
Employer Contribution to PF A/c Dr.
To PF Payable A/c Cr.
To E.S.I. A/c Cr.
To Wages Payable A/c Cr.
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / abhishek
Wages A/c Dr.
To Outstanding Wages A/c
Opening Entry in Next Year :-
Outstanding Wages A/c Dr.
To Wages A/c
| Is This Answer Correct ? | 5 Yes | 10 No |
Answer / bharani
wages outstanding a/c dr
to wages a/c cr
being wages outstanding
| Is This Answer Correct ? | 2 Yes | 7 No |
Answer / vijay singh
Outstanding wages a/c Dr.
To wagesa/c
Being outstanding wages paid.
| Is This Answer Correct ? | 8 Yes | 47 No |
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