ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1899)
 Accounting General interview questions  Accounting General Interview Questions (2810)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4360)
Question
WE have paid two month Advance salary on dated 03 June 2010.
What will be journal entry inthe month of june for advance 
payment. And what will be journal entry in the month of 
july and August for salary adjustment.
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
ADVACE SALRY A/C DR 10000
TO BANK/ CASH 10000
( BEING ADVANCE PAID FOR THE MONTH OF JULYAND AUG 5K+5K IN
THE MONTH OF JUNE)
 
Is This Answer Correct ?    34 Yes 0 No
Raj
 
Answer
# 2
Advance Salary A/c RS. 20000/- DR
TO BANK/CASH RS.20000/- CR

BEING ADV AMOUNT PAID FOR M/O JUL & AUG'10 RS, 10K & 10k
RESPECTIVALY.

ENTRY FOR M/O JULY & AUG'10

SALARY A/C RS. 10000/- DR
Advance Salary A/c Rs. 10000/- CR

BEING AMOUNT OF ADV SLY ADJUSTED FOR SLY DUE IN M/O JUL'10

SAME AS M/O AUG'10
 
Is This Answer Correct ?    18 Yes 0 No
Gagan Singh
 
 
 
Answer
# 3
If Salary is 20000 p.m

in June
Salary Advance A/c Dr.40000
to Cash/ Bank A/c 40000
(Being the Adv. Salary paid for the month of July & Aug)

In july

Salary A/c Dr. 20000
to Salary Advance A/c 20000
(Being the Salary Advance recovered for July)

In August
Salary A/c. Dr. 20000
Salary Acvance A/c 20000
(Being the Salary Advance recovered for Aug )
 
Is This Answer Correct ?    13 Yes 1 No
Naveen
 
Answer
# 4
advance salary *****
To cash *****

(salary of july nd august paid in adv)


transaction for july
salary a/c dr ***
to adv salary ****

for august

salry a/c dr ****

to adv salary
 
Is This Answer Correct ?    2 Yes 1 No
Bipinchandrajain
 
Answer
# 5
Bank/Cash 10,000(cr)
Adv Salary 10,000(dr)

Being adv salary paid for the month of july & aug 5k+5k
 
Is This Answer Correct ?    3 Yes 26 No
Chanchaldaw
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
Withdrawn ₹ 10000 for personal use. [journlise it]   2
Can u please give me a proper example of how genral entries of depreciation are recorded like if depreciation expense is ONE HUNDRED and acc.dep is two hundred how we will record that?   1
IRR and NPV   1
while preparing final accounts of a service rendering shop,then where do the purchases and sales come as closing stock is not there   1
i purchase a printer which expenses it comes my shop is medicines purchase and selling   2
What is Fund Flow and how to prepare that?   3
what is the difference between 'Quotation' & 'Profarma Invoice'?   5
Journal entry for Telephone purchased in credit? Amazon 5
I need to know when you buy a asset on credit and your monthly instalment is $10000 in the books where and how do you record the outstanding liability the interest and the capital instalments.Secondly the deposit that you receive which you should still send back to the tenat where in the books do you record for entry and the contra entry.   1
How many ways can i increase paid up capital? Can i use retained earnings and change into paid up capital? If yes, what are the entries in the books? ABC 2
what is equity shares? Genpact 2
what is credit card and what is debit card   2
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com