Interested to Buy Any Domain ? << Click Here >> for more details...
what is the Journal entry for Salaries outstanding? Giv an
example.
- 27 Answers
- 165528 Views
- ACS, Apple, Cognizant, Genpact, HSBC, Infosys, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / moti
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 ? | 561 Yes | 25 No |
Answer / niranjana
Salary A/c Dr.
To Salary Outstanding A/c.
(Being Salary Due)
While Payment
Salary Outstanding A/c Dr.
To Bank/Cash A/c
(Being Payment Clear)
| Is This Answer Correct ? | 278 Yes | 20 No |
Answer / vijay007in
Salary ..................dr
to salary payable a/c.
(being salary due)
while making the payment.
salary payable a/c......dr
To bank/Cash a/c.
(being payment made clear.)
| Is This Answer Correct ? | 187 Yes | 37 No |
Answer / vikki kumar
Salary a/c Dr.
To Salary outstanding a/c
(being salary due)
while salary paid
Salary outstanding a/c
To Cash/bank
(being salary paid)
| Is This Answer Correct ? | 135 Yes | 8 No |
Answer / murali royal
Salaries a/c Dr xxxx
To Outstanding salaries xxxx
(Being salaries payable or outstanding)
*** Salary is expense to business so as per Nominal account
all Expenses should be Debit
*** Outstanding means not yet paid so it is liability. So it
should be credited
| Is This Answer Correct ? | 116 Yes | 7 No |
Answer / shailendra bijalwan
Salary A/c Dr.
To Salary Outstanding A/c.
| Is This Answer Correct ? | 60 Yes | 7 No |
Answer / aditya kumar
Salariesa/c dr
To outstanding salary a/c
(Being salary is due / outstanding )
When it paid , then
Outstanding salary a/c dr
To bank a/c / cash a/c
| Is This Answer Correct ? | 39 Yes | 2 No |
Answer / rupesh
if Salary is outstanding
make the entry as follows
SALARY A/C DR
TO PF A/C CR
TO ESIC A/C CR
TO P.T. A/C CR
TO SALARY PAYABLE A/C CR
| Is This Answer Correct ? | 31 Yes | 14 No |
Answer / balu
salaries a/c dr
To salary outstanding A/c
Being salary due
payment entry:
salary outstanding a/c
To Cash/Bank a/c
Being payment made
Reason: first we credited salary outstanding a/c it was nullified when it is debited.If cash paid cash a/c if payment made by cheque Bank a/c
then final entry
salary a/c dr
To Cash/Bank A/c
Being salary clear
| Is This Answer Correct ? | 20 Yes | 3 No |
Answer / dhan govinda baruah
In the last month of the current financial year i,e. in March,journal entry will be:
(1) SALARY A/C Dr
To Mr. X's A/C
(Being salary payable to Mr. X.)
(2) Mr. X's A/C Dr
To OUTSTANDING SALARY A/C
(Being o/s salary c/f to Balance Sheet)
While salary paid in the next financial year (in April) the journal entry will be:
(3) OUTSTANDING SALARY A/C Dr
To CASH/BANK A/C
(Being outstanding salary amount made clear)
| Is This Answer Correct ? | 11 Yes | 0 No |
what is book building?
Why we do provisions?
Give the company law and income tax law depriciations rates how both are calculte?
what mean by derivatives?
what is meant by TDS
whether stamp duty paid online through MCA 21 portal is refundable; if it is paid twice
Can we finalize Balance Sheet Without prepare Profit & Loss Account.
hat is the meaning of the capital ique,and hat is capital,and ahat is ique
What is US GAAP describe..? What is the different between US GAAP and Indian GAAP...?
1 Answers Berger Paints, Wipro,
How often is the stock market ticker updated? 15sec? 30sec?
what is equity capital. what is authorised capital. What is debentures. what is paid-up capital.
Three charities have common trustees and currently produce separate accounts. Can the charity somehow put these together as a single set of accounts?
Audit 
