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 |
Payment Blocks . What is "A" and "R" Blocks in Account payables.. ??
What is the Difference Between Sales Tax and VAT ?
Tell me which accounting application you prefer most and why?
Hello friends, I want to sk that Is computer proficiency certificate necessary at the time of SBI clerk Interview?and all other guys who have cleared the nov 2009 exam and have got the bio data form please give replies,,, waiting for replies ,thank you.
Tell me what is an over accrual?
sir what is the depreciation and how to calculate depreciation as per company books, i need as per IT ACT, AND Companies Act give me clarification with example
what is different between accouts receivable and billing?
What is the Basics of Bank Reconcialiation ?
Suppose we are getting a TDS Certificate from our vendor's how can enter the same in our books.
the selling price of a prouduct of vintex limited inclusive of basic excise duty 16% and education cess 2% and SAH cess 1% is rs 3002. find the assessable unit of prouduct?
In which condition a vendor raise excise invoice & what are the effect of excise invoice on client ?
What do you mean by Debit and Credit?