What is the closing entry for outstanding amount?
Answer Posted / rohit sonare
FOR OUTSTANDING EXPENSES
Entry on 31 march:
'A' Expense a/c DR. ('A' is nature of exp. like salary)
To Outstanding 'A' a/c
Entry on payment:
(Make oppsite entry)
(i) Outstanding 'A' a/c DR.
To 'A' Expense a/c
then:
(ii) 'A' Expense a/c DR.
To cash/bank a/c
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Hi any one send me the configuration steps for make to order and make to stock in sap .send to my mail id c.sujatha2008@gmail.com
What is the basic difference between pledge, hypothication and mortgage????
i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp
we want all sbi previous questions papers in our e.mail krishna2043 on yahoo
Total numbers of companies listed on stock Exchange?
What are the question asked for accounts associate
Short Answer on _________Commerce
Can you explain about the distinction of Book-Keeping and Accounting
What are the stages involved while preparing business blue print with examples?
What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times
As a fresher in oracle finance can a get a job in oracle finance n what type of questions can they ask me as a fresher...oracle finance...
What is the content of purchase order? n content of voucher? what is the main use of voucher.
If its is declared by auditor that business is not going concern that what journal entry will be pass?
whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account
sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest