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)
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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 |
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