what is the Journal entry for Salaries outstanding? Giv an
example.
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Answer / rajaneeshkeloth
Salaries A/c Dr
To outstanding salaries A/c
(being salary due)
When it paid
outstanding salaries A/c Dr
To cash A/c
explanation; salary is an expence, all expences in an
accounting year should be brought in to account, out
standig salary is current liability so it should be
credited, when it is paid our liability decreases so it
shou be debited ,in addition to outstanding salaries a/c
can be closed bypassing the second entry
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / ajay sharma
Salary will be paid in April'12 for March'12 than entry
that needs to posted to close books in prevous assessment
year would be.
Entry in Mar'12:
Salary a/c Dr
To Salary Outstanding a/c
Entry in Apr'12
Outstanding Salary a/c Dr
To Bank/Cash a/c
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / shaikh areef areef
Salary A/C................Dr xxxxxxxxx
To salary outstanding A/C. xxxxxxxxxccx
(Being salary Due)
When made payment
Salary outstanding A/C ..........Dr xxxxxxxxx
To Cash/ Bank A/C xxxxxxxxx
( Being salary paid)
"Salary is expense for business so as per Nomminal A/C All expenses should be debited
And outstanding salary means liabilities so it should be credited
If any mistakes from my view please suggest me the correct reason on whatapps +919576404243
Shaikh Areef Nomani
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / kavita
it will be
Salaries A/c Dr
To Salaries outstanding A/c
when it is paid it will be
salaries A/c Dr
To Cash A/c
| Is This Answer Correct ? | 155 Yes | 152 No |
Answer / cdn
Salaries A/c Dr.
To Salary Payable a/c
(Being Salary Due)
Salary Payable A/c Dr.
To Mr. X's a/c
(Being Salary due for particular employee)
Mr. X a/c Dr.
To Cash/Bank a/c
[Being Salary Paid to Mr. X (Employee of the co.)]
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / ansari
SALARIES a/c DR
OUTSTANDING SALARIES a/c DR
TO CASH/BANK a/c
(BEING SALARIES PAID FOR ,,,)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / deepak kumar polai
Salary A/c Dr
To Salary outstanding A/c
(Being Salary Due)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / raj thakur
salary a/c dr
To outstanding salary
(being salary not paid at the end of the year)
Profit & loss a/c dr
To salary a/c.
(being salary transferred to p/l a/c)
BY RAJ THAKUR
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / md. miraj uddin
Salary A/C Dr
To Salary Payable/Outstanding A/c
when it will paid
Salary Payable/Outstanding A/c
To Cash/Bank
| Is This Answer Correct ? | 1 Yes | 0 No |
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