05-08-2009, 10:24 PM
Hi there, i have totally forget some basic concepts for my income statement and was just wondering if anyone can give me some advice and help.
If i have wages and salaries of 5000 on my trial balance,
and have 2000 outstanding on the date of my income statement, do i add them together as the expense as they represent the expense for the year that should have been paid?
obvioulsly its going to be a current liability in my balance sheet, but i was just wondering about this part first,
thanks chris
If i have wages and salaries of 5000 on my trial balance,
and have 2000 outstanding on the date of my income statement, do i add them together as the expense as they represent the expense for the year that should have been paid?
obvioulsly its going to be a current liability in my balance sheet, but i was just wondering about this part first,
thanks chris
