what is the Journal entry for Salaries outstanding? Giv an
example.
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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 |
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