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[Debit] Outstanding expenses
[Credit] Cash / bank
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∙ 9y ago
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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.
What is the Journal entry for outstanding rent paid?
outstanding rent
What is the journal entry that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
What is the journal entry for prepaid expense when cash is not paid?
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
What is the journal entry for the outstanding salary paid?
debit salary payableCredit 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.
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.
What is the Journal entry for outstanding rent paid?
outstanding rent
What is the journal entry that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
What is the journal entry for prepaid expense when cash is not paid?
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
What is the journal entry for the outstanding salary paid?
debit salary payableCredit cash / bank
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
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.
What is the journal entry for paid in advance of the expenses for others company?
Expenses of other company is not recorded and it may be shown as loan to that company.
What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
What are outstanding expenses?
expenses that you still owe (have not yet been paid).
How do you create a Journal Accounting entry for Operating expenses paid in cash 4600 and on account 2000?
Operating Expenses (Debit) 6,600 Cash (Credit) 4,600 Accounts Payable (Credit) 2,000
