ledger entry for outstanding salaries

Answer Posted / sateessh

Salary A/c Dr
To O/S Salary Cr

Is This Answer Correct ?    10 Yes 4 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

how to caluclate tds from emloyees and others

1593


What are control ledgers?

673


say something about your school

2520


What a deferred asset is and give an example?

612


What is the difference between inactive accounts and dormant account?

686






iv, A non -performing asset is A, Money at call and short notices b, An asset that ceases to generate income c, cash balance in till d, none of the above

1530


What and How to compute an unsecured balances?

1712


Tell us what do you believe should be an important quality of an account executive?

546


A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500

2119


What are the fictitious assets?

654


"Closed Period" method. our current company method of accounting is called the "OPEN PERIOD". It's time we'd like to use the "CLOSED PERIOD". What is the standard timing and detailed procedure for closed period most of the company have been used. Please advise. thanks.

1617


what stock transfer applicable in sister concern unit.

1792


What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?

1922


The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.

1297


What are the effects of international accounting standards on accounting practices of developing nations?

671