Question

Wages owing is:
(a) Personal A/C
(b) Impersonal A/C
(c) Real A/C
(d) Nominal A/C
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Answer 1

• Wages Payable   is a current liability account that is reported on the balance sheet.
• It is also called accrued wages payable.
• It records the amount of wages that are owed to employees.
• That amount was for the work that the employees performed earlier.
• This is a wage that has to given for employees for their prior works.
• Hence,The wage owing is a Nominal A/C.
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Answer 2

Answer:

Wages owing is Nominal A/C.

correct answer is (d)Nominal A/C

Explanation:

Wages payable refers to the liability incurred by an organization for wages earned by but not yet paid to employees. The balance in this account is typically eliminated early in the following reporting period, when wages are paid to employees.

Wages expense is an expense account, whereas wages payable is a current liability account. A current liability is one that the company must pay within one year. The company presents its expense accounts on the income statement and its liability accounts on the balance sheet.

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