View Full Version : Adjusting Entries
jedik
Sep 19, 2012, 02:32 AM
Salary of a casual employee in the amount of 4,000 has been incurred as of Dec.31, but remains unpaid.
What is the entry?
paraclete
Sep 19, 2012, 04:58 AM
No doubt you have heard of the concept of accrued wages
jedik
Sep 19, 2012, 06:05 AM
Yes, I don't know what account title is appropriate to use?
paraclete
Sep 19, 2012, 06:46 AM
Have you tried accrued wages? Honestly, accounting requires comprehension
pready
Sep 19, 2012, 10:36 AM
How about Salaries Payable or Wages Payable?
jedik
Sep 20, 2012, 02:54 AM
How about Salaries Payable or Wages Payable?
Dr. Salaries Expense
Cr. Accrued Salaries
I am really not sure. This is my answer.
paraclete
Sep 20, 2012, 02:34 PM
Yes you have got it