what is the journal entry of outstanding wages ?
- 27 Answers
- 77364 Views
- ABC, OBI, I also Faced
- E-Mail Answers
Answer Posted / eklavyaoffinance
Wages A/c Dr.
To Outstanding Wages A/c
(Explanation : If it had been entry for "wages paid" , we
would debit "Wages A/c" and credit "Cash A/c". But since
here wages are not actually paid (by cash) "Outstanding
Wages A/c" will have to be credited instead of "Cash A/c" .
Note : here "Outstanding Wages A/c" is a Personal Account
and "Wages A/c" is a Nominal Account.
| Is This Answer Correct ? | 134 Yes | 12 No |
Post New Answer View All Answers
A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?
on earth moving road work which type of tax is applicable?
Cenvat credit transaction journal entries. And what does the term reversal of credit means
How to calculate excise duty on mobile products?
Under the provisions of the BST Act, no registered dealer is allowed to collect any amount by way of tax in excess of the amount of tax payable by him. Excess tax collected is to be forfeited to Government. However i want to know whether tax payable amount is the amount before the set off claimed or the tax payable amount after availing the set off.
if a person is investing rs.100 per month for 11 months of a year,how much ammount of annuity he will be paid at the end of year?
we charge service tax in our Invoice.we pay it in time. At the end of the year other party gives his deduction as certificate. what to do with it ? how to submit again to tax authorities?
What are the deductions under salary head?
What is Excise duty? What is Edu Cess & Sec Edu Cess? Why and when it is applicable? What is Excise Claiming?
if i have a comany take contract from gvt. & i take contract from that company, & in his bill he show about all tax deduction ike IT, WCT etc, but material is purchase by that company not by us so here i want to know how WCT applicable? on total amount of contract or according to rule like material service & after adding all things??
what diff. between Account ,Commerce and Finance?
service tax
Pl give the abstract details of Karnataka VAT Payment procedure, rebating, returns filing in connection of manufacture, distributer & retailer.
cst rates
do we have tds in nigeria
