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Outstanding salaries journal

WebOn 1st October, 2011, a municipal tax of Rs. 1,000 may be paid for one year. If accounts are made up-to 31st March, 2012, taxes for six months (from 1st April, 2012 to 30th … The outstanding expenses journal entry involves two accounts: the “Outstanding Expense Account” and the related “Expense Account”. They are an obligation for the business and therefore treated as a liability. The accounting rule applied is “credit the increase in liability” and “debit the increase in expense” (modern … See more A rent which is past its due date is called outstanding rent. Such an obligation is included in the list of current liabilities for a business and the account is treated as … See more Salaries and wages differ slightly. Part-time jobs, assignments with variable hours, and jobs with repetitive duties are commonly referred to as wages instead of … See more It is also known as accrued interest. An outstanding interest journal entry is required to record the amount of interest owed by the business on a loan obligation. … See more

Prepaid Expenses Journal Entry How to Record Prepaids?

WebQuestion 11: Give journal entries for the following adjustments in final accounts: (i) Salaries Rs. 5,000 are outstanding. (ii) Insurance amounting to Rs. 2,000 is paid in advance. (iii) … WebFrom the following information pass the necessary journal entries relating to the items of expenses and incomes. Also, show their treatment in the Trading and Profit and Loss A/c … the the good guys https://poolconsp.com

Journal Entries MCQ [Free PDF] - Objective Question Answer for …

WebSalary Payable Example #2. Continuing with the above example and details, consider now that Vanilla Bond Pvt Ltd pays its employee’s salary every 29 th month via NEFT from the … WebJan 28, 2012 · b) In case of outstanding salaries:-Type of voucher to be prepared:-Journal Voucher. Entry to be made:-Debit:- Salaries Account. Credit:- Outstanding Expenses … WebJul 1, 2024 · Pass Journal entries in the books of Puneet, Delhi for the following: (i) Received an order from Karan & Co. for supply of goods of ₹ 50,000. (ii) Received an order from AK … the the great twitch breach

Adjusting Entries - NetMBA

Category:What is the accounting nature of outstanding salaries (personal, …

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Outstanding salaries journal

DK Goel Solutions Class 11 Accountancy Original Entry Journal

WebJan 21, 2024 · Explanation: The salary Due or Outstanding to the employees is considered as the Expenses of the business. According to the accounting rules, the increase in the … WebJul 7, 2024 · 1. Outstanding Salary of Rs 1,000 is added to Salary Account and is debited to Profit and Loss Account. 2. Outstanding Salary is a liability and shown in Balance Sheet …

Outstanding salaries journal

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WebApr 11, 2024 · Accounting Treatment. Outstanding salary is added to the salary and shown on the debit side of profit and loss account. It is further shown under the head current … Web JOB DESCRIPTION Handling and preparation: 1. All accounting entries for receivable and payable bonds in system . 2. All Journal vouchers in system . 3. Receive collected Premium in cash or cheques and deposit in Bank account. 4. Due payments to Insurance companies . 5. Due commission payments to all sales agents …

WebJul 28, 2012 · outstanding salaries a/c.....dr to outstanding expenses. What is journal entry of outstanding expenses? Outstanding expenses are those which are yet to be paid in … WebJun 28, 2024 · Outstanding salary is a personal representative account. As per matching concept, salary is due but not yet paid. So, Unpaid salary to be shown as liability under …

WebJun 25, 2024 · On 31st March, 2024 Salary paid by cheque to employee Rs. 60,000. Pass journal Entry. The salary paid to the employees is considered as the Expenses of the … Web2 days ago · This Outstanding Women in Business honoree is the first female superintendent of her school system. The Business Journals . ... Triad Business Journal . Apr 12, 2024. MYRA COX

WebAug 16, 2024 · Salary outstanding is the salary due in the current year but not paid. This outstanding amount is shown in the Balance sheet as a Current Liability of the firm. Also …

Web9. Outstanding salary at the end of the year Rs. 30,000. Solution 27: Question 28. Record journal book. 2024 Particulars. April 1 Purchased goods for Rs. 1,00,000 from Manoj and … the the great escapeWeb9. Outstanding salary at the end of the year Rs. 30,000. Solution 27: Question 28. Record journal book. 2024 Particulars. April 1 Purchased goods for Rs. 1,00,000 from Manoj and availed discount of Rs. 10,000. April 2 Paid amount due to Manoj by cheque and availed discount of Rs. 4,500. April 5 Cash Rs. session timeout elastic beanstalk php.iniWebApr 11, 2024 · Outstanding Salaries. A former primary school teacher complained to the Ombudsman Commission that she was not paid her outstanding salaries for services … session timeout in powerappsWebOct 10, 2024 · Pass the Journal Entries for the following transactions :- a. ... Rs.20,000 for wages and Rs.4000 for salaries are outstanding. e. Purchased furniture for Rs.6000 for the proprietor and paid the amount by cheque. f. Provide 9% interest on capital amounting to Rs.2,00,000. g. Charge interest on drawings Rs.1000 See answers the the great gatsby movieWebFeb 13, 2024 · 30 transactions with their Journal Entries, Ledger, Trial balance and Final Accounts- Project. Commission received journal entry. Outstanding Salary Journal Entry. Cash Sales Journal Entry. 10 Balance Sheet Questions for Practice Bad Debts Recovered Journal entry. Trial Balance questions with solutions class 11. Trial Balance format … the the good old daysWebNov 22, 2014 · Best Answer. Copy. debit cash / bank (with overpaid amount) credit salary expenses. Wiki User. ∙ 2014-11-22 06:00:08. This answer is: Study guides. session testing scenariosWebMar 13, 2024 · Prepaid Expenses Example. We will look at two examples of prepaid expenses: Example #1. Company A signs a one-year lease on a warehouse for $10,000 a … the the goose