FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Payroll Entries
Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll p…
Question

What is the difference between Wages Payable and Wages Expense? What statement do they appear on?  What account are they on? Do they carry a DR or CR balance?

Please provide the same for Salary Expense

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