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what is the journal entry of outstanding wages ?

Answer Posted / pragada satish

Wages a/c dr xxx

To outstanding wages a/c xxx

Wages but not paid at the end of the accounting period.
it is two fold effect.
1.it will be addded to the concerned expenses account in
profit and loss a/c debit side.

2.Out standing wages will be show on the liability side of
the balance sheet

Is This Answer Correct ?    7 Yes 3 No



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