Answer / rasheed

MR.Alok Patkar is correct

EXample: outstanding rent is 2000/-

outstanding is liability to the business and liability always shows credit balance....so it should be credit and respective account should be debit...
for above example entry will

Rent a/c..............dr
to outstanding rent a/c

Answer / samrat das

Party's A/c .........Dr.

To Outstanding Expenses A/c.

Answer / alok patkar

EXPENCES A/C DR
TO O/S EXPENCES

Answer / raghu.aps eveing v b.com

Outstanding indicates both thing whether Receivable or Payable
if its Telephone charges Payable for the month of march,

than

Telephone a/c Dr
Telephone charges payable a/c
Because Expenses always shown dr balance and Liabilti always
shown Cr Balance

Answer / kaleem

The actual question is Journal entry for Outstanding ??

and the Answer is

Expenses(Audit fee) A/c ----Dr.
To Outstanding expenses (Audit fee)A/c---Cr

and at the time of clearing Outstandings..

Outstanding expenses(Audit fee) A/c----Dr.
To Cash/Bank A/c----Cr

Answer / p.vijendra

profit and loss a/c..dr
to outstandind exp a/c

Answer / shahid raza, pgdm,l.b.s,g.noid

outstanding expences a/c .....dr.
to expences a/c

IS CASH DISCOUNT/RECIVED IS OPERATING EXPENSE/INCOME?

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