Accountancy, asked by PRACHISHETTY6475, 4 months ago

Salary paid identify the nature of account

Answers

Answered by rajeevgupta39

8

Explanation:

Answer: 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 'Expenses Payable' or 'Salary Payable' in Balance sheet on liabilities side and on other aspect of dual entry to be placed in Profit & Loss Account.

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