what is the answer for that salary outstanding and salary of current year
is both debited to p&l? ie salary paid and salary outstanding?
what is the answer for wdv depriciation rate
33.33% ?
5 Replies
RANGARAM S
(IPCC Student/Share Trading)
(155 Points)
Replied 26 April 2009
Hi adula,
I feel u can put your question more clearly.
Yes. Salary outstanding for the FY will be debited to P&L as salary paid for the current year.
akash
(student)
(78 Points)
Replied 01 May 2009
| Originally posted by :adula..... | ||
| " | what is the answer for that salary outstanding and salary of current year is both debited to p&l? ie salary paid and salary outstanding? what is the answer for wdv depriciation rate 33.33% ? |
" |
Dear Adula
In my Opinion, Salary outstanding and salary of current year both will be debited under salary exps. in P & L A/c . Here the basic difference is that salary for the current year will be treated as exps whereas salary outstanding will be treated as salary payable under current liabilities.
adula...
(student)
(550 Points)
Replied 02 May 2009
ya i did not ask question properly
cos i thought some on will answer who wrote cpt exam ...sorry
can a company buy its own debunters?
triumph-CMA
(Chartered Accountant)
(503 Points)
Replied 30 May 2009
yes a company can buy its own debentures as investment and can cancel them subsequently.
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