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what is the Journal entry for Salaries outstanding? Giv an
example.
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Answer / sanjaya bbllav mohanty
salary a/c dr
to salary outstanding a/c
wnen paid
salary outstanding a/c dr
to cash / bank cr
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / santosh kumar
First entry for Salary Outstanding:-
Salary A/C Dr
To Outstanding Salary A/C
(Being salary due for the month)
When paid?
Salary Outstanding A/C Dr
To Bank A/C
(Being outstanding salary paid)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / naresh
Keep in mind every time when you're preparing a journal entry
Assets always shows debit balance
Liabilities always shows credit balance
When payment is not made
Salary Dr
Outstanding salary CR
When payment is made
Outstanding salary Dr
Cash CR
Final entry
salary Dr
To cash CR
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / bala
salary A/c Dr. xxx
To salary outstanding A/c xxx
(being salary for due)
salary outstanding A/c Dr. xxx
To salary A/c xxx
(being salary paid)
| Is This Answer Correct ? | 4 Yes | 7 No |
Answer / yogendra pratap singh
overhead salries A/c Dr
To outstanding salaries a/c
| Is This Answer Correct ? | 0 Yes | 4 No |
Answer / waqar
nononononon
first
salary a/c dr
outstanding salary a/c cr
beginning of year
we transfer outstanding salary to salary expense a/c
by
outstanding salary dr
salary expense a/c cr
and when payment made
salary expense dr
cash /bank cr
| Is This Answer Correct ? | 3 Yes | 20 No |
Answer / subash
salary a/c dr
to salary payable a/c
salary due
salary a/c dr
to bank/cash a/c
payment
| Is This Answer Correct ? | 12 Yes | 34 No |
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