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are wages payable payable current liabilities? On a balance sheet a company has current liabilities in terms of wages payable. This is because it is short term liabilities they are usually due in the next payroll cycle in a matter of days or a couple of weeks. These debts are the amounts that are owed to employees on services that they have already accomplished. The current liabilities are something due in the next year, that is why wages payable are classified under this category. Those properly accounted can be used to show the true image of a company regarding its short term financial obligation and use it to maintain the transparency of the company with those it has an obligation to.
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Yes, wages payable are a current liability because they are money owed to employees and paid soon.
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