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    dtrain94530's Avatar
    dtrain94530 Posts: 1, Reputation: 1
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    #1

    Jul 16, 2008, 05:34 PM
    Accrued wages payable
    Which financial staement would accrued wages payable be found
    TAccounts's Avatar
    TAccounts Posts: 3, Reputation: 1
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    #2

    Jul 16, 2008, 06:21 PM
    dtrain94530

    Accrued wages payable are found on the balance sheet and are typically classified as current liabilities along with accounts payable and other liabilities expected to be paid in the short term.

    To help with other questions like this you might take at look at the following:
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    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Jul 20, 2008, 12:03 AM
    Curious tool.

    However, be careful with it. One, try not to use it as a lazy way to get things on the correct statements without actually learning what you're doing. (Over the past couple of years, with homework being done more and more on computers, there's been a trend towards students not learning what they're doing. You need to practice manually to really learn.)

    Also, it's putting all credits as negative numbers. While that works in a one-column trial balance (which some accounting programs do, as well as how you'd do it as one column in Excel), it is not a proper way to do it in t accounts, nor on a financial statement. I watched the demo thing and, for instance, it had sales on the income statement listed as a negative! (Because sales is a credit.) This isn't right. Don't learn it that way. And if you print and turn in something like that, your instructor will probably have a conniption.

    I will say, though, this little thing might come in handy when I'm teaching. Like when someone gives me a list of transactions and I have to very quickly catch up with work they've already done so I can check their work...

    Just as a note, ALL payables are liabilities and therefore on the balance sheet. You do not need to learn payables one at a time.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #4

    Jul 20, 2008, 12:36 AM
    Hmm... not to mention that this is a commercial product that needs paid for...

    A bit curious that your name is TAccounts and the product is called TAccountTool. Coincidence?

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