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Categories >> Accounting >> Accounting General
 
 


 

 
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 Accounting General interview questions  Accounting General Interview Questions (2815)
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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
 

 
 
 
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how to account the purchase and sale of fixed assets?   2
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A company has not deposited TDS since April 2010 till 31-12- 10. TDS amount is around 3.00 Lacs per month u/s 194c,J and 1.00 U/s 192. Can any one tell concequences and chart in excel sheet how much to be deposited as on 31.12.2010 with interest. For each quarter - whether interest calculation is separate or to take it cumulative. pls explain with qanswers and hoe much panely , interest to be paid till 31.12.2010 also inform the status of tds certificates to be issued and panelty for the same for late issuance. i.e what shud be the date of issuing the certificates to public & empoloyees.   1
why we use 'To' when crediting an entry in journal and sometimes not use 'To'...??   1
why companies put ltd and pvt ltd,what is the difference? Capital-IQ 12
what is Service tax rate   6
What will be the journal entry in the case of Debit Memo and Credit Memo?   2
 
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