I need to determine if Wages Payable and Wage Expense is Owner's Equity, Assets or Liability. Then I need to pick which they are each reported on: Statement of Owner's Equity, Income Statement, Balance Sheet or Balance Sheet and Statement of Owner's Equity. Problem is, I don't know what the difference between wages payable and wage expense is.

Wages Expense refers to the compensation earned by employees during the time indicated in the heading of the income statement. Under the accrual basis of accounting, the date wages are earned determines when the wages are reported as an expense. It does not matter when they are paid.

Those wages that have been earned but not yet paid are the Wages Payable. Wages Payable are the amounts due to employees for the work they have done but not yet been paid.

If it's still confusing, let me know and I'll give you an example.

What side increases and what side decreases for wage expense

Expense accounts have a normal Debit Balance.

To help you remember:
Debits are AWEsome. That means DEBITS increase Assets, Withdrawals, and Expenses. Credits increase everything else. If you receive Cash, it's an Asset, so it goes into the Debit column. If you pay cash for anything, it goes in the credit column. If you rack up an Expense, it goes in the Debit column. So, if you have a wage for an employee that accrues over a break in statements, such as 4 days of pay in a 5 day week, you'd have 4 days of expense in the first time zone and 1 day of expense in the second time zone (in debit columns). You would also have 4 days of wages payable from the 4 days not yet paid. So on day 5 when you pay the worker, you would have the total amount paid as a Credit to Cash, then 4 days debit to wages payable and one day debit to wage expense.