Wages due to laboures 20000 and salary due to clerk 30000.what is the journal?

Question

Answer

Journal Entry for Wages and Salary Due

There are two accounts involved in this transaction: Wages Payable and Salaries Payable.

Debit: Wages Payable - 20000

Credit: Salaries Payable - 30000

Explanation:

Debit: Wages Payable - This account is debited as it represents the amount due to the labours for their wages.

Credit: Salaries Payable - This account is credited as it represents the amount due to the clerk for his/her salary.

Impact:

Wages Payable account will increase by 20000.

Salaries Payable account will increase by 30000.

Conclusion:
This journal entry records the amount due to the labours for their wages and the amount due to the clerk for his/her salary. By debiting the Wages Payable account and crediting the Salaries Payable account, we ensure that the total liabilities of the company remain the same, but now the amounts due to specific individuals are properly recorded.

Answer

Wages a/c dr , salary a/c dr To wages o/s a/c, To salary o/s a/c

Answer

Wages a/c (Dr.) salary a/c (Dr.) To wages outstanding a/c. To salary outstanding a/c.

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