If only wages is shown on the trial balance, it should be...
If only wages is shown on the trial balance, it should be charged to the
Profit and loss account
Trading account
Balance sheet
Wages account
Correct answer is A
Wages should be charged in the trading account only if shown separately on the trial balance from salaries. In such circumstances, the assumption, unless you are otherwise told, is that the wage is a direct trading expense to be included in the trading account while salary is an Indirect (i.e overhead) expense to be included in the P & L account.
Which of the following does not relate to government accounting system? ...
In a single-entry accounting, purchases are ascertained using a ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...
A business should not lay claim to any profit before it is earned. This is in accordance w...
When a share valued at 50k is issued at #1.59, it is said to be issued at ...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...