Answer / tejas birajdar

To account the PF & ESI in tally we have to pass below entry

Salary a/c Dr xxx
To ESI recd. Cr xxx
TO PF Recd. Cr xxx
To Cash or Bank a/c Cr xxx
(Being salary paid for the month of xxx)
(Create Salary a/c as expense, ESI & PF a/c as liability)

At the time of PF & ESI payment to Govt.

ESI Recd. a/c Dr xxx
PF Red. a/c Dr xxx
To Cash a/c Cr xxx
(Being ESI & PF payment made to Govt.)

Answer / tarun patel

Salary a/c Dr xxx
To ESI recd. Cr xxx
TO PF Recd. Cr xxx
To Cash or Bank a/c Cr xxx
(Being salary paid for the month of xxx)
(Create Salary a/c as expense, ESI & PF a/c as liability)

At the time of PF & ESI payment to Govt.

ESI Recd. a/c Dr xxx
PF Red. a/c Dr xxx
To Cash/Bank a/c Cr xxx
(Being ESI & PF payment made to Govt.)

Answer / shivakumar

Salary a/c Dr xxx
To ESI recd. Cr xxx
TO PF Recd. Cr xxx
To Salary payable a/c Cr xxx
(Being salary Payable is Provision entry for the month of..)
(Create Salary a/c as expense, Salary payable a/c, ESI & PF
a/c as liability

Salary payable a/c Dr XXX
ESI Recd. a/c Dr xxx
PF Red. a/c Dr xxx
To Cash/Bank a/c Cr xxx
(Being ESI & PF payment made to Govt and Salary paid to..)

Answer / sajjad1

Here i have a ? why we cr the ESI and PF Accounts its
become our Liablities after cr it. Thanks

Expand---------TDSR

1 Answers  

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What is combination?

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what is the mean of accounting standerds and what is it and pls explean about this

2 Answers  

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Expand---------OTMD

0 Answers   ABC,

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1.What are the basic accounting Standards ?? 2.What is the main importance of Bank Reconcilation Statement? 3. What is Form 407 in Vat ??

0 Answers  

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What is the Difference between hire purchase and a finance Lease?

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wat is extended price??

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I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.

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Expand ________DCE

1 Answers  

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   D M Systems, Ignou,

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What's Authorized share capital?

3 Answers   HP,

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different between acconting and elective mathematics

0 Answers  

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