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-   -   In accouting wages is asset or owner equity? (https://www.askmehelpdesk.com/showthread.php?t=579868)

  • Jun 3, 2011, 03:50 PM
    yj8989
    In accouting wages is asset or owner equity?
    IF the given transaction with wages 400 .Should debit as asset or owner equity? So damn confuse!
  • Jun 3, 2011, 04:57 PM
    Just Looking

    Wages are an expense.
  • Jun 5, 2011, 02:34 AM
    talal-crackdown

    Hi,
    You didn't clarify your question well...

    1.if you are an employee and receiving wages then entry will be:
    Debit Cash 400
    Credit income 400

    If you are an employer and giving wages to labor then entry will be:
    Debit wages expense 400
    Credit Cash 400

    Hit me back if you don't get it

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