Wages and Salaries appearing in Trial Balance is shown:
a) On the debit side of trading A/c
b) On the debit side of Profit and Loss Account
c) On the Asset Side of the Balance Sheet
d) On the liabilities side of Balance Sheet
Answers
Wages and Salaries appearing in Trial Balance is shown on the debit side of trading A/c.
Option A
Explanation:
Legitimately there is not really any contrast among Wages and Salary. Truth be told, by whatever name called, any compensation paid to a worker will be treated as 'pay' or 'wages'. Be that as it may, separate treatment is required in records to show the manufacturing plant cost, cost of generation and like.
Accordingly, compensation paid to workers who are legitimately associated with generation and whose administrations can be ascribed straightforwardly to a cost focus are taken as 'wages' or work cost (in Cost Sheet) and those compensation, state sum paid to administrative staff, bosses whose obligation is to regulate a group of representatives, administrators and so forth are taken as 'pay' (remembered for managerial overhead).
In conclusive records the wages will be appear as charged to Trading A/C though pay will be charged to Profit and Loss A/C. There can likewise be an assumption that sum paid piece appraised or on day by day evaluated are treated as Wages and sum paid on month to month premise are treated as pay. Thus, wages might be variable, contingent on the unit of creation and all things considered it will be a direct/variable cost though compensation will be fixed.
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