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how to adjust last year's outstanding salary in income and expenditure. A/C??
Replies (3)
Salary A/c Dr.
To Salary Outstanding A/c
To Salary Outstanding A/c
Outstanding Salary....??!
If last year salary is paid then following entries shall be passed :
Salary A/c Dr
to Bank A/c
and if salary is made payable or provision is made then :
Salary A/c Dr
to Employee A/c or Provision for Salary A/c
Salary A/c Dr
to Bank A/c
and if salary is made payable or provision is made then :
Salary A/c Dr
to Employee A/c or Provision for Salary A/c
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