Question

Outstanding salary at the end of the year rupees 30000.

​

Answer 1

Answer:

Salaries a/c Dr 30000.00

 To Outstanding Expenses A/c (Salaries )    30000.00

(Being Outstanding salary at the end of the year rupees 30000.)

Explanation:

Above entry means

1. You will add Rs. 30000.00  in salaries account so as it will appear in the P & L A/c as expenses

2. Further you will also add in the outstanding expenses payable next year as salaries Rs.30000.00 as liabilities for the next year