is there any difference between salary payable and outstanding salary??
Answer / rohan
salary account debtor
to salary outstanding account
Outstanding Salary A/c is a Representative Personal Account as it represents a group of people to whom some amount of salary is payable. Similarly other outstanding and prepaid expenses also fall under the category of representative personal accounts.
Outstanding Salary A/c Dr.
Salary A/c Cr.
Salary A/C Dr.
Cash/Bank A/c Cr.
Salary Payable, like other payable accounts are liabilities. It's something the company owes, therefor they are "liable" for that amount making it a liability. Once paid it is then an "expense"
| Is This Answer Correct ? | 5 Yes | 12 No |
What is margin of safety?
Difference between Accounts & Finance ?
6 Answers BNP Paribas, Marketing, Shriram,
Expand I B M
what is the difference between intangible assets and fictious assets
What is deffered income
where i can file service tax and when what i need to file service tax?
expalin Revenue and profit
what does debit and credit mean in accounting and what is its underlying concept and its treatment. in the cash book dr means receipt nad credit means payment? is it correct?
Salary to the employee comes under expense or liabilty to the co? how?
in what form is crr kept in RBI?
how many types of practice accounts?
What is the accounting treatment for TDS and service tax?