Journal entries
This query is : Resolved
02 January 2013
dear sir
if we paid salary for last month. how to passed entry
dear sir
if we paid salary for last month. how to passed entry
CA Priyank Singhi
(Expert)
02 January 2013
Salary Dr.
To Cash
(Being salary paid for....)
If you have created an outstanding liability account in the last month then the entry would be...
Outstanding Liability Dr
To Cash
(being salary paid adjusted against outstanding liability)
To Cash
(Being salary paid for....)
If you have created an outstanding liability account in the last month then the entry would be...
Outstanding Liability Dr
To Cash
(being salary paid adjusted against outstanding liability)
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