ledger entry for outstanding salaries
Answers were Sorted based on User's Feedback
Answer / narendra
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 ? | 32 Yes | 5 No |
Answer / satya murty.ch
salary account DR
TO OUT STANDING SALARIES
Is This Answer Correct ? | 13 Yes | 5 No |
Answer / raksha
Outstanding salary A/c
To cash A/c
because outstanding salary is an expense for a company so it is an expense and as per nominal account expense has to be debited.
and cash is going out, so as per real account, credited the cash.
Is This Answer Correct ? | 5 Yes | 3 No |
Answer / premarajan p
Dr Outstanding salary Dr. 00 Cr 1000
When paying cash/bank
It is debited
Cr .salary cash Dr.Rs 1000
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / akram khan
for outstanding salary a rule follows i.e.
Increase in exp. Is debit and decrease is
credit. So salay is an exp. Provision entry
for employer shall be
salary a/c dr
to salary payable a/c
and at the time of payment
salary payable a/c
to cash/bank
AKRAM KHAN
Is This Answer Correct ? | 3 Yes | 5 No |
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