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The Wages section on a general ledger is the account that represents the cost of your payroll, or how much you need to give your employees for the current period.
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The entry to adjust the accounts for wages accrued at the end of the accounting period is?
wages expense and wages payable
What is the meaning of outstanding wages?
wages unpaid or owed
How are a schedule of accounts payable prepared?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul
What liability account would hold the balance of wages due but not yet paid Wage Expense Prepaid Wages or Wages Payable?
Wages Payable Payable accounts holds amount owned but not yet paid.
What is a list of the Permanent Accounts in Accounting?
Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Wages Payable, Capital
The entry to adjust the accounts for wages accrued at the end of the accounting period is?
wages expense and wages payable
What is the meaning of outstanding wages?
wages unpaid or owed
Can your wages be garnished for an accounts receivable from your employer?
in most states, yes.
In Pennsylvania can a creditor garnish your wages or levy your bank account?
They can levy bank accounts in most cases, they cannot garnish wages.
What liability account would hold the balance of wages due but not yet paid Wage Expense Prepaid Wages or Wages Payable?
Wages Payable Payable accounts holds amount owned but not yet paid.
How are a schedule of accounts payable prepared?
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul
What is a liability account?
Liability Accounts record obligations of a business towards its creditors. Examples of liability accounts are Accounts Payable, Interest Payable, Wages Payable. These accounts appear on the balance sheet.
If your car is repossessed in Pennsylvania can your wages and bank accounts be garnished?
check this site
What is a list of the Permanent Accounts in Accounting?
Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Wages Payable, Capital
What is the meaning of the idiom to doctor the accounts?
To doctor the accounts is to falsify the accounts.
How should idle time wages be treated in cost accounts?
idle wage components
In the state of California can your wages be garnished or bank accounts frozen by a judgment creditor?
Yes.
