New emlpoyee was joined on 15th Jan and salary paid on 28th
Feb amt of Rs.20000/- and asked to give the Journal entry
for the Month of Jan, Fed and March (His Monthly Salary is
Rs.8000/-)
- 23 Answers
- 21826 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / abid ali
salary for the 15th jan
salaries outsanding a/c dr 4000
to outsanding expenses a/c 4000
salary received for the 15the jan in the month of feb
salaries a/c dr 4000
to cash 4000
salary for the feb
salaries outsanding a/c 8000
to outsanding expenses 8000
salary recieved for the feb in the march
salaries a/c 8000
to cash a/c 8000
salary for the month of march
salary outsanding a/c 8000
to outsanding expenses a/c 8000
salary for the month of march in april
salary a/c 8000
to cash a/c 8000
| Is This Answer Correct ? | 0 Yes | 12 No |
Post New Answer View All Answers
emplementation of accounting standerds in Bangladesh, developing or copieng?
How can someone prepared for Syndicate Bank Interviw? Do interviewer going to ask any aptitude questions or will it be similar to other PO Interviews? Answers solicited..
Why you want to leave your present job while they offer you with good offer?
What is intangiable asset?Which contents are to be verified during cheking the Transporters' bills?
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.
How can we display last five years sales in tally
what is the difference between sap and sas?
Difference between nonoperating expentiture and non cash expenditure
Define The Term Journal And Explain The Present Day Use?
what is the difference between accounts manager and finance manager?
after payment of interest of a loan account by using credit note voucher in tally 9........don't anyone thinks that we have to adjust the cash account by passing cr entry on journal for interest payment...
Explain the word Liquidation
Dear sir,i have completed M.sc,MBA.STILL I AM NOT GETTING WELL POSITION .I THINK ON LOW BUGET ON COURSE TO IMPROVE MY POSITION IN FINANCE FIELD.
What is the Memorandum voucher?
Transfer nett profit of Rs 325000/- to Reserves and Surplus
