What is the effect of the outstanding or unpaid expenditure?
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the outstandind expenditure is those which has been incurred and consumed during the accounting and are due to be paid .the outstanding expenditure is a personal account and shown in liability side of balance sheet.when expenses are not paid on time they r outstanding.
the outstanding expenditure those expenses which r due but not yet paid .it act as a liability and considers rules" credit the increase in liability " and " debit to show an expensess"
the outstanding expenditure those expenses which r due but not yet paid .it act as a liability and considers rules" credit the increase in liability " and " debit to show an expensess"
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The outstanding expense is those which has been incurred and consumed during the accounting period and are due to be paid.The outstanding expense is a personal account and is shown on the liabilities side of balance sheet.when expenses are not paid on time they are outstanding.In accounting, we have to make a journal ...
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