Interested to Buy Any Domain ? << Click Here >> for more details...
ledger entry for outstanding salaries
- 10 Answers
- 33668 Views
- D Link, ITC Infotech, Northern Trust, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / narendra
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 ? | 32 Yes | 5 No |
Answer / satya murty.ch
salary account DR
TO OUT STANDING SALARIES
| Is This Answer Correct ? | 13 Yes | 5 No |
Answer / raksha
Outstanding salary A/c
To cash A/c
because outstanding salary is an expense for a company so it is an expense and as per nominal account expense has to be debited.
and cash is going out, so as per real account, credited the cash.
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / premarajan p
Dr Outstanding salary Dr. 00 Cr 1000
When paying cash/bank
It is debited
Cr .salary cash Dr.Rs 1000
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / akram khan
for outstanding salary a rule follows i.e.
Increase in exp. Is debit and decrease is
credit. So salay is an exp. Provision entry
for employer shall be
salary a/c dr
to salary payable a/c
and at the time of payment
salary payable a/c
to cash/bank
AKRAM KHAN
| Is This Answer Correct ? | 3 Yes | 5 No |
Define social responsibility accounting
What is purchase returns accounting
WHAT IS THE VAT/CST RATE FOR PURCHASING COMPUTER/PHERIPHERALS FROM GUJARAT AGAINST C FORM, FOR DIU (UNION TERRITORY) AND WHAT RATE OF VAT/CST I HAVE TO PAY IN DIU FOR SALE.
What are the current liabilities & current Assets
When we paid TDS on commission how will journal entry come
How many types of inventories are there for a company ?
can any one tell me what is the difference between Accounting period & Financial year? Will be waiting for your answer. It's an open source question, any correct answer will be appreciable. Thanks. Regards, Mr. RKO
a cc. has balance Rs. 8,40,000 at the credit of profit and loss a/c this balance is used for redemption of debentures what will be the entry
If we started new project of Housing with Construction linked payment plan . How can booked our revenue or Sales .
What is the Meaning of E.& O.E ?
. Expenses a/c. Dr. To vendor a/c. Cr. What is an impact of this transaction on business
I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the vendor $1,832.40. How should I record my entry? I am aware that the credit note entry is using journal and the payment is using payment voucher. But I am not sure how to post the entry. Please help. Many thanks.
Audit 
