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journal entry of outstanding
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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
| Is This Answer Correct ? | 24 Yes | 0 No |
Answer / samrat das
Party's A/c .........Dr.
To Outstanding Expenses A/c.
| Is This Answer Correct ? | 15 Yes | 5 No |
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
| Is This Answer Correct ? | 3 Yes | 0 No |
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
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / p.vijendra
profit and loss a/c..dr
to outstandind exp a/c
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / shahid raza, pgdm,l.b.s,g.noid
outstanding expences a/c .....dr.
to expences a/c
| Is This Answer Correct ? | 9 Yes | 11 No |
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