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what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??

Question Posted / kaushiki biswas

Answers were Sorted based on User's Feedback



what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / manoj mishra

Salary AC Dr
To Outstanding Salary AC
on payment: -
Out Standing Salary a/c ----Dr.
To Cash/Bank

Is This Answer Correct ?    9 Yes 3 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / indrani ghosh

salary a/c Dr. 15000
to outstanding/salary a/c. 15000

advance slary a/c Dr. 25000
to cash/bank a/c 25000

outstanding salary a/c Dr15000
to cash a/c 15000

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / himanshu

how it would be outstanding if we already paid in advance.
Wrong question.

But for the advance salary the entry would be

DR... Prepaid salary
CR... TO Cash/Bank

AND For the outstanding salary the entry would be
DR.. salary exp.
CR... TO Salary Payable

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / siva

salary in advace ...DR 25000
To outstanding salary 15000
To cash 10000

Is This Answer Correct ?    0 Yes 0 No

what would be the journal entry for outstanding salary of 15000 paid by advance salary of 25000??..

Answer / romit

SALARY AC DR
TO OUTSTANDING SALARY 15000
2. OS SALARY AC DR TO BANK 15000
3. SALARY AC DR TO ADVANCE SALARY 10000
3. ADVANCE SALARY AC DR TO BANK 10000

Is This Answer Correct ?    1 Yes 2 No

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