the amount paid aganist the outstanding salary and the
amount paid aganist the loan (liabilities)-how and where to
make an entry?
Answer Posted / dillip kumar dash
The out standing salary is also a current liabilities and it
should be entered as
Dr. Bills payable or Salary Payable
Cr. Cash or bank
The Loan is also a liability and the entry should be entered as:
Dr. Loans
Cr. Cash or Bank
Is This Answer Correct ? | 10 Yes | 0 No |
Post New Answer View All Answers
A company primarily operating from own land, takes on rent building for staff quarters. Whether rent paid on such staff quarters qualifies as capital investment?
Explain which account is responsible for interest payable?
What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
Please advise how to calculate net asset....
How does accounting contribute to the community?
over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured
Do you know retail banking?
Tell me entries to revenues accounts such as service revenues are usually?
what will be the entry for inventory
What is WCT ? Who will Resposible for deposit WCT Means TDS Deductor or Material supplier. Is TDs applicable on WCT. Who will responsible for deposit WCT. I Am New For this Field. Thanks in advance...
What are accounting entities?
Mention the types of accounts involved in double entry book-keeping?
WHAT IS THE DEFINATIN OF IDENTICAL GOODS AND SIMILAR GOODS? WITH EXAMPLE?
what is share application money pending allotment?
Tell me an example of a tough decision that you had to make?