wages payable definition
A current liability account that reports the amounts owed to employees for hours worked but not yet paid as of the date of the balance sheet.
A current liability account that reports the amounts owed to employees for hours worked but not yet paid as of the date of the balance sheet.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.