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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4369)
Question
journal entry of outstanding
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
EXPENCES A/C DR
TO O/S EXPENCES
 
Is This Answer Correct ?    13 Yes 2 No
Alok Patkar
 
Answer
# 2
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 ?    11 Yes 0 No
Rasheed
 
 
 
Answer
# 3
Party's A/c .........Dr.

To Outstanding Expenses A/c.
 
Is This Answer Correct ?    12 Yes 4 No
Samrat Das
 
Answer
# 4
outstanding expences a/c .....dr.
to expences a/c
 
Is This Answer Correct ?    8 Yes 5 No
Shahid Raza, Pgdm,l.b.s,g.noid
 
Answer
# 5
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 ?    1 Yes 0 No
Raghu.aps Eveing V B.com
 
Answer
# 6
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 ?    0 Yes 0 No
Kaleem
 
Answer
# 7
profit and loss a/c..dr
to outstandind exp a/c
 
Is This Answer Correct ?    1 Yes 2 No
P.vijendra
 

 
 
 
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Inflation Bank-Of-America 2
 
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