what is the journal entry of outstanding wages ?
- 27 Answers
- 77148 Views
- ABC, OBI, I also Faced
- E-Mail Answers
Answer Posted / surjit singh
WAGES A/C DR
TO OUTSTANDING WAGES A/C
NARRATION BEING AMT OF O/S WAGES FOR THE M/O...
WHEN PAID
OUTSTAINDING WAGES A/C DR
TO CASH/BANK
NOTE WAGES A/C IS NOMINAL A/C ANY INCREASE IN IT IS DEBIT
AS ILLUSTRATED ABOVE,ANY INCREASE IN LIABILITY IS A CREDIT
IT REFLECTS ABOVE,BUT MY POINT IS O/SALARY A/C IS A
PERSONAL A/C RULE IS DEBIT THE RECEIVER CREDIT THE GIVER
IN THIS CASE SOME GROUP OF PERSONS SAY RAM SHYAM GOPAL HAS
RENDERD SERVICES TO COMPANY WITH NO BENEFIT TAKEN,SO THEY
ARE OBVIUOSLY IN CREDIT SIDE ACCORDING TO RULE CREDIT THE
GIVER REMEMBER ANY INCRESE IN ASSET AND EXP IS + AND
INCRESE IN LIABITYS AND INCOMES ARE +.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
is there easy guide for the latest India tax & accounting information for 2010?
please tell me how to take stock (not enter in purchase) in Tally ERP 9 in Case the goods recived against from FORM 38 The Company sent me consignment for sale on behalf commisson & after sale he want FORM F. so please tell me procesure of TAke the Stock in Tally for the Created Sale Invoice & Tax Invoice. Thank You
A Norwegian Company rents some equipment to a customer in India. The Norwegian Company does not have an office in India. The new tax regulations make in mandatory for them to furnish a PAN number without which a with holding tax will be deducted. The Norwegian company will be paying tax on this rental income in Norway. India and Norway have a Double Tax Avoidance Agreement. I wish to know 1) Is it possible for the Norweigian company to avoid the with holding tax in India?
HOW MUCH PENALY IF SALES TAX IS NOT PAID ON DUE DATE IN HARYANA SALES TAX
I paid service tax double time due to web site problem for the year 2009-10, is there any chance to claim that amount if yes please tell me the process. thanking you.
What is the commitment to the bankers against L/C ? They need any colletral Security or any deposit ? What is terms & conditions of L/c?
Define assessment year.
We have a constructed a goverment approved textile park in year 2007. will we have to pay Service Tax on that Construction Service?
if i paid interest on tds for ex:- tds deducted on rent for the month of april, may, june rs. 20000 each for month and tds paid on 7th july then i have to pay interest @ 1.5% for rs. 1200 , 900 , 600 respectively , so i wanted to know what is the entry for rising of this interest in accounting software other than tally
how to calculate deffered tax, relating to company.. pls explain with examples.. also about timing differences..
1. Defination of Contractor & sub contractor 2. In cash method of accounting can we claim TDS deducted on Advance Recevied from contractee.
why charges PURCHASE @ 15 % TAX RATE ?
what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?
What is the different between Excise Invoice and Invoice
M paying salary of Rs. 22500/-, 21500/- & 17500/- to my employees, frm June 2010. I still have not deduct TDS from their salary. I have not applied for TAN No. M also paying rent of Rs. 50,000/- pm. And also have not deducted TDS on it. What should I do now?
