2024 Outstanding salary under which head

Outstanding salary under which head

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WebBalance Sheet: Show on the liability side (usually under the head current liabilities) Example. Suppose a company paid Rs 10,000 in salaries during the year and evaluates outstanding salaries at Rs 2,000 at the end, show the adjustment of outstanding expense in final accounts. 3. Adjustment of Prepaid Expenses or Unexpired Expenses WebMay 5, 2010 · looking 4wrd 4 ur comments. For Salary A/c to be Dr. ----- follow nominal A/c rule, ( Dr. all expenses,losses, gains and income) For o/s salary to be Cr ----- Follow personal A/c rule ( Cr the giver of the benefit) i know why this question is asked by you... Bcz u got confused in relation to the rule of personal A/c...

Taxability on Director’s Remuneration under Goods & Service Tax

WebQuestion 9 State the major heads under which the item appearing on the equity and liabilities side of a companies’ balance sheet are classified. Solution 9. Point for Students: … WebApr 4, 2024 · And tax will be calculated as per the new slab rate of individual resident for calculation of TDS on salary u/s 192 , i.e. Rs 1,05,000. Education and higher education cess of 4% on the income tax = Rs 4,200. Therefore, the net tax payable = Rs 1,09,200 . Accordingly, TDS u/s 192 to be deducted per month = Rs 1,09,200 / 12 = Rs 9100. mcafee pop up won\u0027t go away

Tally Ledgers Groups List, Accounting Groups in Tally ERP 9

WebFeb 9, 2024 · Calculation of Tax Relief under Section 89 (1) for Salary Arrears. Let us understand the steps to calculate tax relief u/s. 89 (1) with an example: Arjun’s salary is INR 4,80,000 (40,000 per month) for FY 2024-20. His employer raised the salary to INR 7,80,000 (65,000 per month) in April 2024 which is effective from March 2024. WebMar 28, 2024 · All types of Sales Accounts like. Sales Local 12 % (Registered) Sales Interstate 12%. Sales Local Nil Rated. Sales Interstate Nil Rated. Salers Export With Bond. … WebTS Grewal Solutions for Chapter 1 Financial Statement of a Company Class 12 Accounts have been provided below based on the latest TS Grewal Class 12 book. The answers … mcafee pop up removal windows 11

TDS on Salary under Section 192 - ClearTax

Outstanding Expenses - Meaning, Examples, and FAQs

WebMay 26, 2024 · Choose Destination: ALT + N to enter > Nature of payment > Advance payment under reverse charge to record advance payment entry in Tally.ERP 9. Phase I: Detailed Steps to pass advance payment entry in tally GST: Step 1. Go to Gateway of Tally > Accounting Vouchers > F5: Payment. Step 2. WebGenerally, the difference between salary and wage is that salary is a fixed amount and wage is based on the number of hours that an employee works. Pass outstanding salary journal … mcafee powershellWebJan 8, 2009 · Indrajit Mondal (Service) (142 Points) Replied 08 January 2009. If the company maintaning their Accounts in Accural Basis then TDS should have deducted on unpaid Salary and the outstanding Salary show in the current liabilities under the head "Outstanding Salary/Salary Payable" along with outstanding TDS on Salary. INDRA. Shikhar (XYZ) (38 … mcafee pre install tool

"WebAnswer / ajinkya3089. 1) If company has paid the salary then following condition. apply. salary is the indirect expenses of the company.and we have. posted entry as a profit and loss account Debit..... to salary account. 2) If company has not paid the salary to emplyoee then. following conditons apply. salary is outstanding of company. " - Outstanding salary under which head

Outstanding salary under which head

Outstanding Expenses Meaning Example Entry Quiz & More

http://meiti-uae.com/library/wv4790/outstanding-salary-comes-under-which-head-in-tally WebApr 9, 2024 · The amount of Prepaid salary is deducted from salary and shown on the debit side of the profit and loss account. It is further shown under the head current asset in the balance sheet. Hence prepaid salary (or) salary paid in advance is treated as adjustment entry. Example- On 1st March, Company A Ltd paid 4 months prepaid salary amounting to ...

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WebWhen the expenses become outstanding or pre-paid and incomes become accrued or unearned, they fall under this category. For example, Outstanding Salary A/c, Pre-paid Rent A/c, Accrued Interest A/c, Unearned Brokerage A/c, etc. Accounting as an Information System. II. Impersonal Accounts. Impersonal Accounts are further classified as: Real … WebApr 25, 2024 · Answer: Outstanding salary is liability for an entity, hence it is shown under the head " Current Liabilities" in the balance sheet of an entity. Outstanding salary comes …

WebUnder which heads and sub-heads following items will appear in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 : (i) Debentures. (ii) Loose … WebBalance Sheet: Show on the liability side (usually under the head current liabilities) Example. Suppose a company paid Rs 10,000 in salaries during the year and evaluates outstanding …

WebThe authorized capital of Suhani Ltd. is Rs. 45,00,000 divided into 30,000 shares of Rs. 150 each. Out of these company issued 15,000 shares of Rs. 150 each at a premium of Rs. 10 per share.

WebJul 27, 2024 · Outstanding salary is liability for an entity, hence it is shown under the head " Current Liabilities" in the balance sheet of an entity. Under Indirect Expense. In this blog …

WebUnder which heads and sub-heads following items will appear in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 : (i) Debentures. (ii) Loose tools. (iii) Calls-in-Advance. (iv) Stores and spares. (v) … mcafee popups won\\u0027t stopWebAccountancy. Download PDF. Read DK Goel Solutions Class 12 Accountancy Chapter 1 Financial Statements of Companies below, These solutions have been prepared based on the latest book for DK Goel Class 12 for current academic year. These solutions for DK Goel Accountancy Class 12 help commerce students understand the concepts of accountancy … mcafee powershell ブロックWebApr 9, 2024 · Outstanding expenses come under the head of Current Liability in the Balance Sheet. ... Outstanding salary, outstanding rent, outstanding subscription, outstanding wages, etc. These outstanding expenses are recorded in the books of finance at the end of an accounting period to show the accurate figures of a business. mcafee pop up won\\u0027t go awayWebWhen the expenses become outstanding or pre-paid and incomes become accrued or unearned, they fall under this category. For example, Outstanding Salary A/c, Pre-paid … mcafee port 80WebJun 28, 2024 · Outstanding salary is liability for an entity, hence it is shown under the head " Current Liabilities" in the balance sheet of an entity. Outstanding salary comes under … mcafee preinstall tool windows 10WebApr 11, 2024 · Accounting Treatment. Outstanding salary is added to the salary and shown on the debit side of profit and loss account. It is further shown under the head current liabilities in the balance sheet. Outstanding salary is also known as Salary due (or) Salary … mcafee potentially unwanted programsWebJun 21, 2024 · The director’s remuneration need to be declared separately other than ‘salaries’ head in the company’s books and accounts subjected to TDS under section 194J … mcafee powershell module