Keyword Analysis & Research: accrued income

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What is the definition of accrued income?

What is 'Accrued Income'. Accrued income is earned but has yet to be received. Mutual funds or other pooled assets that accumulate income over a period of time but only pay out to shareholders once a year are by definition accruing their income.

Do accrued salaries go on income statement?

Wages payable does not go on a company's income statement; it goes on its balance sheet. Wages payable is an accrual account, which means that the company has incurred wage expenses but has not paid them as of the reporting date.

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