how to pass the entry of advance paid to employee against salary

Question Posted / guest

2 Answers
5565 Views
Concor, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

how to pass the entry of advance paid to employee against salary ..

salary Advance Dr 5000
Cash/Bank Cr 5000

While adjusting Salary for same Person,

X salary a/c Dr 5000
salary Advance a/c Cr 5000

Is This Answer Correct ?

7 Yes

0 No

how to pass the entry of advance paid to employee against salary ..

Answer / satyakiraju

You better write the name of the person received Salary
Advance for clarity.
X salary advance
To Cash/Bank
You have to group the salary advance under Loans and
Advances(Asset)

Is This Answer Correct ?

1 Yes

0 No

Post New Answer

More Accounting General Interview Questions

How create the invoices?

0 Answers Infomatics Software Solutions,

wat is mass allocation and when it is used

0 Answers Meru Cabs,

Please advise how to calculate net asset....

0 Answers Ford,

amount paid to rajiv as tour advice-2000

5 Answers

WHAT IS THE DEFINATIN OF IDENTICAL GOODS AND SIMILAR GOODS? WITH EXAMPLE?

0 Answers

How to pass workscontract sale invoice which includes WCT & VAT.

0 Answers

Golden Rules Accounts (15th nov-2009)

8 Answers Ernst Young,

Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?

0 Answers

what is mean by DDU SHIPMENT AND DDP SHIPMENT

2 Answers

entry for cheque bounce

6 Answers Wipro,

what is the nature of expenses of a donation

1 Answers

Wat entry ill come after paying the Cen -Excise Tax Vat Tax and Service Tax in the same time

2 Answers

For more Accounting General Interview Questions Click Here