journal entry of outstanding
Answers were Sorted based on User's Feedback
Answer / rasheed
MR.Alok Patkar is correct
EXample: outstanding rent is 2000/-
outstanding is liability to the business and liability always shows credit balance....so it should be credit and respective account should be debit...
for above example entry will
Rent a/c..............dr
to outstanding rent a/c
Is This Answer Correct ? | 24 Yes | 0 No |
Answer / samrat das
Party's A/c .........Dr.
To Outstanding Expenses A/c.
Is This Answer Correct ? | 15 Yes | 5 No |
Answer / raghu.aps eveing v b.com
Outstanding indicates both thing whether Receivable or Payable
if its Telephone charges Payable for the month of march,
than
Telephone a/c Dr
Telephone charges payable a/c
Because Expenses always shown dr balance and Liabilti always
shown Cr Balance
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / kaleem
The actual question is Journal entry for Outstanding ??
and the Answer is
Expenses(Audit fee) A/c ----Dr.
To Outstanding expenses (Audit fee)A/c---Cr
and at the time of clearing Outstandings..
Outstanding expenses(Audit fee) A/c----Dr.
To Cash/Bank A/c----Cr
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / p.vijendra
profit and loss a/c..dr
to outstandind exp a/c
Is This Answer Correct ? | 2 Yes | 3 No |
Answer / shahid raza, pgdm,l.b.s,g.noid
outstanding expences a/c .....dr.
to expences a/c
Is This Answer Correct ? | 9 Yes | 11 No |
what is the journal entry for cheque dishonour
16 Answers Bank Of America, CTS, Oriental Bank Of Commerce,
I M DIVISIONAL ACCOUNTANT. POSTED IN TAMILNADU. MY NATIVE STATE IS BIHAR. I WANT TO KNOW, WHAT R THE RULES OF CADRE TRANSFER. I M FACEING HERE SOME PROBLEMS
How to pass entry in Tally erp 9
If A is Employee of the co. his salary is 100000 per month. tds is 20000 Rs. Professional tax is 200. then please tell me how to enter in Journal & payment vouchers in tally
purchased books rs.50000 and paper 25000
What is Inter branch accounts reconciliation
What is departmental accounting? Give an example
Explain things that fall under intangible asset?
what does LAT stand for in FYE statement
what is the Journal entry for credit card bill paid from same bank account
Describe the proof of cash type of bank reconciliation?
what is the basic difference between pooling of interest method and purchase method in amalgamation