what is the journal entry of outstanding wages ?
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Answer Posted / p. navaneetha krishnan
Wages Account Dr. XXX
Outstanding Wages Account. xxx
(Provision Entry for Wages Payable ) for Month / year End.
Outstanding Wages Account Dr. xxx
To Cash / Bank Account xxx
(Outstanding Wages Payables Last Month / Last Year paid
now)
Note:
If provision Created once, then at the time of payment
entry debti to be given to the credit of provision given or
it means that expenses wrongly booked to the extended of
amount provisons created in Last Month / Year.
| Is This Answer Correct ? | 6 Yes | 3 No |
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