what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??

Answers were Sorted based on User's Feedback



what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / manoj mishra

Salary AC Dr
To Outstanding Salary AC
on payment: -
Out Standing Salary a/c ----Dr.
To Cash/Bank

Is This Answer Correct ?    9 Yes 3 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / indrani ghosh

salary a/c Dr. 15000
to outstanding/salary a/c. 15000

advance slary a/c Dr. 25000
to cash/bank a/c 25000

outstanding salary a/c Dr15000
to cash a/c 15000

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / himanshu

how it would be outstanding if we already paid in advance.
Wrong question.

But for the advance salary the entry would be

DR... Prepaid salary
CR... TO Cash/Bank

AND For the outstanding salary the entry would be
DR.. salary exp.
CR... TO Salary Payable

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / siva

salary in advace ...DR 25000
To outstanding salary 15000
To cash 10000

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / romit

SALARY AC DR
TO OUTSTANDING SALARY 15000
2. OS SALARY AC DR TO BANK 15000
3. SALARY AC DR TO ADVANCE SALARY 10000
3. ADVANCE SALARY AC DR TO BANK 10000

Is This Answer Correct ?    1 Yes 2 No

Post New Answer

More Accounting General Interview Questions

Under which category in the balace sheet will closing stock appear

3 Answers   Banking,


real account means

9 Answers   Infosys,


Please tell me jurnal entries for input vat and output vat?

1 Answers  


Capital Expenditure

2 Answers   Chartered Accountant,


Is there any significance between Bank Reconciliation and Account Reconciliation in Accounts?

2 Answers  






what is the journal entry for accumulated depreciation?

4 Answers   Core Logic,


IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.

0 Answers   TATA, Textiles,


HOW TO POST THE GENERAL ENTRY OF DEPRECIATION ON FURNITURE IN ACCOUNTING SOFTWARE FOCUS

1 Answers   DELL,


What is field status variant in SAP FI Module?

1 Answers   IBM,


Have you ever made mis reports and what are they?

0 Answers  


Tell me how can you define departmental accounting?

0 Answers  


what is the difference between 'quotation' and 'proforma invoice'?

2 Answers  


Categories