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expenses that you still owe (have not yet been paid).
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∙ 14y ago
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What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
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.
Meaning of outstanding expenses?
what is outsand expenses
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
Journal entry for outstanding expenses?
Today, I recorded outstanding expenses in our journal to reflect costs that have been incurred but not yet paid for. This helps us accurately track our financial obligations and ensure they are accounted for in our records. By noting these outstanding expenses, we maintain transparency in our financial reporting and can better manage our cash flow.
Outstanding expenses under which group?
outstanding expences is an current liability
Difference between outstanding expenses and unexpired expenses?
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
1 Current assets do not include a. cash b. debtors c. outstanding expenses d. prepaid expenses?
The answer is (C ) Outstanding expenses, as these are liabities of business and not an asset.
Differnce between outstanding expenses and prepaid expenses?
prepaid expenses are paid in advance and they are called current assets.The outstanding expense is the unpaid money,still owed.
What is a denination of outstanding expenses?
madhar
Where put entry outstanding expenses in profit and loss account?
Outstanding expenses are put on the credit side in a loss and profit account. Outstanding expenses refer toÊthe amounts of money that are due for things like rent that are not yet paid.
More about outstanding expense?
expenses which are to be made in future due to previous days expenses
