what is the journal entry of outstanding wages ?
Answers were Sorted based on User's Feedback
Answer / eklavyaoffinance
Wages A/c Dr.
To Outstanding Wages A/c
(Explanation : If it had been entry for "wages paid" , we
would debit "Wages A/c" and credit "Cash A/c". But since
here wages are not actually paid (by cash) "Outstanding
Wages A/c" will have to be credited instead of "Cash A/c" .
Note : here "Outstanding Wages A/c" is a Personal Account
and "Wages A/c" is a Nominal Account.
|Is This Answer Correct ?||128 Yes||12 No|
Answer / mirunalini
Wages A/C Dr
To Wages for outstanding A/C
(if wages 2000 s not paid , in p&l A/C wages should be
posted left hand side of p&l A/C, wages for outstanding
will be posted in liabilites side.)
|Is This Answer Correct ?||60 Yes||16 No|
Answer / rakesh thakur
Wages a/c Dr.
To Wages Payable a/c
Wages Payable a/c Dr.
To Cash/Bank a/c
|Is This Answer Correct ?||45 Yes||9 No|
Answer / sunil
wages a/c dr
to wages payable a/c
Being Amount of Wages payable for the Month as per details
|Is This Answer Correct ?||57 Yes||24 No|
Answer / aknit
wages A/c dr
to Outstanding wages
(being wages A/c is transferred to o/s wages )
|Is This Answer Correct ?||31 Yes||5 No|
Answer / t.t.abhishek9
WAGES A/C ..DR
TO O/S WAGES A/C...
(BEING WAGES TOWARDS OUTSTANDING WAGES)
|Is This Answer Correct ?||27 Yes||4 No|
Answer / sri
wages A/c Dr
To outstanding expenses A/C
(Being wages was outstanding)
|Is This Answer Correct ?||13 Yes||3 No|
Answer / piyush_703
wages a/c Dr.
To provision for outstanding wages A/c.
(For outstanding wages)
provision for outstanding wages A/c. Dr.
To cash / bank A/c
(for outstanding wages paid)
|Is This Answer Correct ?||23 Yes||14 No|
Answer / sudarshan
vijay singh wt u r doing man
|Is This Answer Correct ?||14 Yes||6 No|
Form C can be issued for final ( gross ) value OR cost of the material + excise value only ?
what is exice duty-mening,heads,rates for 2008-09 year,procedure,when it is filled,complete information about exice duty?
CERTAIN LIST OF EXPENSES ARE MENTIONED IN SECTION 35D regarding amortisation of such expenses........not included in the list are expenses like administrative expenses,consultancy fees etc...if these expenses are of revenue nature then well and good enough, problem taken care of.If it is not of revenue nature nor is it included in the list, how do u treat such expenses. Do u capitalise them by way of fixed assets or sunk costs or what do u do? any case laws that talk about expenses not mentioned in the section?
should we can take modvat benefit any time or they have some limit time to take input benefit claim?
DEAR SIR,PLEASE INFORM US THAT BETWEEN BILL DATE & INWARD DATE WHAT DATE WE HAVE TO WRITE IN "C" FORM.AS WHEN WE RECD.BILL IN DATED OF 30TH JUNE, & WE ARE TAKING THE SAME IN JULY AS OUR INWARD DATE, IN THIS CASE QUARTER HAS BEEN CHANGED & PARY IS ASKING FOR BILL DATE IN "C" FORM INSTEAD OF INWARD DATE.KINDLY HELP US IN THIS REGARD-RAJESH PATEL.PH.079-25624003
From Karnataka,while sending material out, which are all the states required Form 38?
I have the Total amount of 235242. 235242 is included (ST+ED+SED) 10.30%+ Basic of Sales. what is Basic Value???
Under what circumstances Deferred Tax Liability or Deferred Tax Assets entries to be passed ? or what is the advantage by passing the above entries ? How the above entries to be nullified / reversed ( with examples please )
The CST assessement for the FY 2006-07 is completed on 31-3- 2010 and the same is received by dealer on 22-4-10. The question is that the dealer colud not produced the original H Forms at the time time asst. except the photostat copies filed. But the CTO not allowed and calculate tax at net 4% on H Forms turnover. CTO is saying that it is time barred by 31-3-10. Therefore even after produced we can not revise. We filed with case laws that it can be revised But when it is time barred it canot be. Therefore I request You to help the dealer ANYCASE LAW is there in the above case Pl. guide us.
what is the vat rate of Saw dust powder in maharashtra
What are the treatment & implications in case interstate sales transaction if party is not registered (Individual or other then individual)
what will be my tax if i suddenly got 800000 to 1000000 in my bank by chq from sale of an old house?