Hi all, quick question...

amyjayne27
amyjayne27 Registered Posts: 314
Hi all,

This is probably going to be a stupid question but I cannot for the life of me remember!

When compiling a trial balance from information given, is wages owing a credit or debit? I know wages is an expense so is usually on the debit side, but if it is wages owing, is this a liability thus being on the credit side?

Thanks,

Amy

Comments

  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    Hi Amy

    Yes it would be on the credit side, like you said it is wages owed and therefore a liability
  • amyjayne27
    amyjayne27 Registered Posts: 314
    Hi Gem,

    Brilliant thank you very much!

    Amy
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