what is the Journal entry for Salaries outstanding? Giv an
example.
Answers were Sorted based on User's Feedback
Answer / moti
salary ..................dr
to salary out standing a/c.
(being salary due)
while payment.
salary outstanding a/c......dr
to bank a/c.
(being payment made clear.)
Is This Answer Correct ? | 561 Yes | 25 No |
Answer / niranjana
Salary A/c Dr.
To Salary Outstanding A/c.
(Being Salary Due)
While Payment
Salary Outstanding A/c Dr.
To Bank/Cash A/c
(Being Payment Clear)
Is This Answer Correct ? | 278 Yes | 20 No |
Answer / vijay007in
Salary ..................dr
to salary payable a/c.
(being salary due)
while making the payment.
salary payable a/c......dr
To bank/Cash a/c.
(being payment made clear.)
Is This Answer Correct ? | 187 Yes | 37 No |
Answer / vikki kumar
Salary a/c Dr.
To Salary outstanding a/c
(being salary due)
while salary paid
Salary outstanding a/c
To Cash/bank
(being salary paid)
Is This Answer Correct ? | 135 Yes | 8 No |
Answer / murali royal
Salaries a/c Dr xxxx
To Outstanding salaries xxxx
(Being salaries payable or outstanding)
*** Salary is expense to business so as per Nominal account
all Expenses should be Debit
*** Outstanding means not yet paid so it is liability. So it
should be credited
Is This Answer Correct ? | 116 Yes | 7 No |
Answer / shailendra bijalwan
Salary A/c Dr.
To Salary Outstanding A/c.
Is This Answer Correct ? | 60 Yes | 7 No |
Answer / aditya kumar
Salariesa/c dr
To outstanding salary a/c
(Being salary is due / outstanding )
When it paid , then
Outstanding salary a/c dr
To bank a/c / cash a/c
Is This Answer Correct ? | 39 Yes | 2 No |
Answer / rupesh
if Salary is outstanding
make the entry as follows
SALARY A/C DR
TO PF A/C CR
TO ESIC A/C CR
TO P.T. A/C CR
TO SALARY PAYABLE A/C CR
Is This Answer Correct ? | 31 Yes | 14 No |
Answer / balu
salaries a/c dr
To salary outstanding A/c
Being salary due
payment entry:
salary outstanding a/c
To Cash/Bank a/c
Being payment made
Reason: first we credited salary outstanding a/c it was nullified when it is debited.If cash paid cash a/c if payment made by cheque Bank a/c
then final entry
salary a/c dr
To Cash/Bank A/c
Being salary clear
Is This Answer Correct ? | 20 Yes | 3 No |
Answer / dhan govinda baruah
In the last month of the current financial year i,e. in March,journal entry will be:
(1) SALARY A/C Dr
To Mr. X's A/C
(Being salary payable to Mr. X.)
(2) Mr. X's A/C Dr
To OUTSTANDING SALARY A/C
(Being o/s salary c/f to Balance Sheet)
While salary paid in the next financial year (in April) the journal entry will be:
(3) OUTSTANDING SALARY A/C Dr
To CASH/BANK A/C
(Being outstanding salary amount made clear)
Is This Answer Correct ? | 11 Yes | 0 No |
What is STP Reports
1 Answers 3i Infotech, Accel, CTS,
What is Holding co.
Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?
Role of Finance Manager in matters of dividend policy? Alternatives and factors that you may consider before finalizing dividend policy?
4 Answers Anna University, College School Exams Tests, Ericsson, ETC, Hindustan Drug House, IAF, ICICI, Ignou, MBA, Persistent, South Indian Bank, TATA, UPSC, Xansa,
WHAT TO DO IF BANK RECONCILIATION STATEMENT DOES NOT TALLY?
1) What is the steps of delisting the listed company 2) How to spliting the listed company shares 3) Which way the company should function when it has paidup capital is equal or more than 5,00,00,000/- (I mean which way the company should do it work in the company Act 1956. Is the company have to appoint a CS and and managing director of a any other things which is compulsory for these kind of company which paid up capital is 5,00,000/-
tally9 different erp?
when will be appsc exams will held pls give me the dates
What you mean by blue chip companies?
is cs equivalent to post graduation course?
what is freefloat capitalization
STATE & EXPLAIN THE IMPACT OF GLOBAL FINANCIAL CRIS ON CEMENT SECTOR IN INDIA: