Answer / sajeermoidu

staff salary a/c dr....20000
to salary payable a/c.........20000

here staffsalary are shown in p&l a/c and salary payable a/c
is shown in the liability side of the balace sheet as
current liability

prepaid insurence a/c dr......5000
to cash/bank.......................5000

here
prepaid insurence is shown in the asset side of the balance
sheet as current asset

Answer / sukesh

question not clear

Answer / venkata subbaiah

outstanding salary a/c---dr 20000
to salary a/c 20000
insurance a/c dr 5000
to prepaid insurance a/c 5000

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