Question

Wages payable to production employees were $10,000 on 1 May and $5,000 on 31 May. Wages...

Wages payable to production employees were $10,000 on 1 May and $5,000 on 31 May. Wages paid to production employees during May totalled $30,000. May’s direct labour cost was $18,000.

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Answer #1

Journal entry -

1. Wages Payable a/c Dr.     $ 30000

        To Bank A/c                           $30000

(Being Wages paid during May)

2. Wages A/c Dr.               $18000

     To wages payable A/c                $18000

(Being wages payable for MAY)

3. Advance A/c         $7000   

         To Wages payable A/c              $7000

(Advance wages payable)

                               T account

Dr. Wages Payable A/c Cr.
Particular Amount Particular Amount
To Bank 30000 By Balance b/d 10000
By Wages 18000
By Balance c/d 5000 By Advance (BF) 7000
Total 35000 Total 35000
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