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Categories >> Accounting >> CompanyAffairs CS
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1905)
 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
what is the Journal entry for Salaries outstanding? Giv an 
example.
 Question Submitted By :: CompanyAffairs-CS
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
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 ?    254 Yes 9 No
Moti
 
Answer
# 2
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 ?    113 Yes 3 No
Niranjana
 
 
 
Answer
# 3
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 ?    107 Yes 16 No
Vijay007in
 
Answer
# 4
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 ?    71 Yes 4 No
Vikki Kumar
 
Answer
# 5
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 ?    51 Yes 2 No
Murali Royal
 
Answer
# 6
Salary A/c Dr.
To Salary Outstanding A/c.
 
Is This Answer Correct ?    27 Yes 4 No
Shailendra Bijalwan
 
Answer
# 7
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 ?    11 Yes 0 No
Aditya Kumar
 
Answer
# 8
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 ?    18 Yes 8 No
Rupesh
 
Answer
# 9
it will be
Salaries A/c Dr
To Salaries outstanding A/c

when it is paid it will be

salaries A/c Dr
To Cash A/c

 
Is This Answer Correct ?    142 Yes 133 No
Kavita
 
Answer
# 10
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 ?    5 Yes 0 No
Balu
 

 
 
 
Other CompanyAffairs CS Interview Questions
 
  Question Asked @ Answers
 
How can i treat the tds in the Books of Deeductee. Example suppose my company recives an amount on Job work charges by giving tds to a deductor company. Then will i creat it under tax and liability ledger or other. eClerx 4
what is FBT?   2
What should be the answere when asked "tell me about your self".   4
when contribution is negative, then how to calculate PV ratio?   1
Sir, we have a machinery manufectred plant and now we want to ragistration in service tax what is the procedure for this pls help me in detal . we have ecc no. and tin no. already   1
WHAT DO U MEAN BY DIVIDENDS. WHAT IS THE TYPE OF DIVIDEND AND IS THIS PROFIT OR INTREST? Bank-Of-America 10
I have completed by Msc in biotechnology will i be eligible for this SBI P.O position?? or it is only for people who did CA/CS/economics and so on... State-Bank-Of-India-SBI 1
what was the need of Merger in 1991?   1
where will be effect the amount of depreciation in company final account? If it will effect in P&L A/c & Balance Sheet also than will amount be same in both sheet? IBM 10
1.WHAT IS BRS? 2.WHY DO WE PREPARE BALANCE SHEET? 3.WHAT IS TRIAL BALANCE? 4.WHAT IS VENTURE CAPITAL? 5. WHAT IS DEFFERED REVENUE EXPENDITURE? 6. what is mutualfund? 7. why net profit shown liabilities side in balance sheet? FactSet 6
is cs equivalent to post graduation course?   2
Can we finalize Balance Sheet Without prepare Profit & Loss Account.   15
 
For more CompanyAffairs CS Interview Questions Click Here 
 
 
 
 
 


   
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