WebFeb 24, 2024 · The second account is Outstanding Salary A/c (as explained above the amount due but not paid yet will be treated as an outstanding expense) so the personal rule is applied to it. Explanation of the personal rule: there are three types of persons . Natural Person: It means made by Nature like Mr Ram, Mr sham, Mrs Sita, Miss Gita, etc. Artificial … WebName of the account. Description. 4) Freight A/c. It is a direct expense of a business and hence, it is classified as a nominal account.. 5) Wages A/c. It is a direct expense of a business and hence, it is classified as a nominal account.. 9) Bank Charges A/c. It is an indirect expense of a business. All the expenses whether direct or indirect are classified …
What is the journal entry for recording Outstanding wages - Toppr
WebApr 11, 2024 · Outstanding Expenses Journal Entry. In the event that a business fails to make a payment when it is due it becomes an outstanding expense and is treated as a … http://meiti-uae.com/library/wv4790/outstanding-salary-comes-under-which-head-in-tally kinocenter stadthof chur
Outstanding Expenses Meaning Example Entry Quiz & More..
WebJul 5, 2007 · Outstanding Salary A/c is a Representative Personal Account as it represents a group of people to whom some amount of salary is payable. Similarly other outstanding and prepaid expenses also fall under the category of representative personal accounts. WebConcentric is currently seeking candidates in Registered Nurse profession with focus in Registered Nurse (Electrophysiology) for a 13 week contract in the Boston, MA area. Concentric is a premier staffing firm dedicated to matching outstanding talent with exceptional opportunities. Our commitment to excellence and our consultative approach … WebLedger of Outstanding expense. Outstanding expense is liability by nature therefore its have credit balance means its credit side is more than the debit side lets understand it with the example given below. Suppose Salary not paid for the month is Rs 10,000. Journal entry for the above will be. Salary A/c Dr. 10,000. kino changes lyrics