Please explain about wages control account?



Please explain about wages control account? ..

Answer / anix

As the name indicates it is a control Account .
1.entry
Wages Control To
Cash
(Payment of Wages)
2.
Corresponding Expense Account To
Wages Control
At the end the balance of Wages Conrol A/c will be 0.
This A/C is widely used where interim salaries are given to
the employees .....

Is This Answer Correct ?    1 Yes 0 No

Post New Answer

More Accounting General Interview Questions

wt do you understand by ledger

1 Answers  


Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year  What will be JV for this year and next year?- Thank you

0 Answers   ABC, Wipro,


what is the diff btw charge and appropriation

7 Answers   Capital IQ, FactSet Systems, HP,


PLEASE CLEARLY EXPLAIN WHAT IS MEANT BY TDS,CST,ADVANCE TAX,PF,PT,ESI.CLEARLY AS IF EXPLAINING TO LAY MAN

0 Answers  


how to know which item is contingent liability? and why it is not taken in treatment in final a/c....

1 Answers  






Give example of an intangible Asset that is depriciable

3 Answers   Accenture,


How use Budget in SAP, i want to see the report of variant between budget and actuals.

0 Answers  


what is Sundary Debtor and sundary creditor.

5 Answers  


What Does Phantom Gain Mean?

2 Answers   CompuCom, Ernst Young,


what is the jurnet entry ? why

4 Answers  


why creditors a/c dr. to discount received a/c ?

0 Answers  


what will be the treatment of preliminery expenses if due to preliminary expenses being written off there results a loss?

0 Answers   HP,


Categories