View Full Version : How to treat Wages
masud
Apr 22, 2007, 02:15 PM
The following expeses were paid out of the Bank Account:
£
Wages : 6,000
Drawings (see note below) : 10,000
Sundry Expenses : 3,000
Include in the amount shown for drawings is £5,000 that owner of the shop paid to his wife for working in the shop part-time.
Reply early. Thanks a lot.
CaptainForest
Apr 22, 2007, 02:31 PM
What do YOU think the answer is?
Please see this site's policy on homework questions: https://www.askmehelpdesk.com/math-sciences/announcement-u-b-read-first-expectations-homework-help-board-b-u.html
masud
Apr 24, 2007, 02:51 AM
what do YOU think the answer is?
Please see this site's policy on homework questions: https://www.askmehelpdesk.com/math-sciences/announcement-u-b-read-first-expectations-homework-help-board-b-u.html
I've done this way:
DR Wages 5000
DR Drawing 5000
CR Bank 10000
Now confirm for me is it right?
CaptainForest
Apr 24, 2007, 09:12 PM
What are “Sundry Expenses : 3,000” ?
The Wages.
You have 6,000 + 5,000 = 11,000
Dr. Wages 11,000
Dr. Drawing 5,000
Cr. Cash/Bank 16,000
This JE does not factor in whatever that 3,000 is suppose to be for.
masud
Apr 25, 2007, 01:52 AM
What are “Sundry Expenses : 3,000” ?
The Wages.
You have 6,000 + 5,000 = 11,000
Dr. Wages 11,000
Dr. Drawing 5,000
Cr. Cash/Bank 16,000
This JE does not factor in whatever that 3,000 is suppose to be for.
Now it means, I was right. Thanks for the help.