Salaries and Wages_2

The business contributes to medical aid on behalf of the employees

• Debit Medical Aid

  Credit Contributions

• Debit Medical Aid Contributions

  Credit Medical Aid Fund

• Debit Medical Aid Fund

  Credit Medical Aid Contributions

• Debit Medical Aid

  Credit Salaries

The employees' net wages

• Debit Wages

  Credit Creditors for Wages

• Debit Creditors for Wages

  Credit Wages

• Debit Accrued Expense

  Credit Wages

• Debit Wages

  Credit Accrued Expenses

The employee has to contribute towards UIF

• Debit UIF

  Credit UIF Fund

• Debit UIF Contributions

  Credit UIF Fund

• Debit Wages

  Credit UIF Fund

The amount to be included in the Balance Sheet section

• Net Salary/Wage

• Gross Salary/Wage

The net salary will be included in the

• Owner's Equity Note

• Cash- and Cash Equivalents

• Trade-and Other Receivables

• Trade-and Other Payables

Salaries and Wages amounts to be included in the Balance Sheet include:

• Net salaries/wages

• Creditors for salaries/wages

  Amounts due to funds

• Net salaries/wages

  UIF

• Creditors for salaries/wages

  Deductions due to funds

  Contributions due to funds