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Journal entry to write off old outstanding checks?
Debit bankCredit retained earnings
What is the journal entry for overpayment of payroll taxes?
debit payroll taxesCredit cash
What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
How do you journal entry of payroll?
Debit payrollCredit cash / bank
What is the journal entry for accrued payroll?
debit to payroll expense credit to accured payroll
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
What is the Journal entry for outstanding rent paid?
outstanding rent
How do you post Journal entry to post payroll?
To post a journal entry for payroll, first calculate the total payroll expenses, including wages, taxes, and any deductions. Create a journal entry that debits the payroll expense account and credits the liability accounts for taxes and deductions, as well as the cash or bank account if paying employees directly. Ensure to include all relevant details, such as employee names and payroll period, for accurate record-keeping. Finally, review the entry for accuracy before posting it to the accounting system.
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
What is the journal entry for outstanding salaries?
outstanding salaries a/c....................dr to outstanding expenses
What would a journal entry to record the payroll include?
debit payroll expensescredit cash / bank
What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
