Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

cpt problem of april 25 09

adula... (student) (550 Points)

25 April 2009

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% ?

Reply
Follow
Share

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.

Upgrade to CAclubindia Pro. Subscribe Now!

triumph-CMA (Chartered Accountant) (503 Points)
Replied 01 May 2009

Ur question is not clear

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.