DEAR ALL,
HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN
ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c
AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know
whether it is correct or not. If correct, in my individual
ledger no entry is reflected. Alternatively, if I debit my
self and credit petty cash a/c it is reflected in the P & L
Account, but it is not an expense. and not reflected in the
balance sheet, but reflected in P & L. I think I need to
put a journal entry. Like debiting the salary account and
crediting the salary advance account. Is this correct or
not? Can any one help me please. my mail add:
cdvijay100@yahoo.co.in or kmlnkml@live.com
Answer Posted / mahendra
first entry payment is
Vijay a/c dr 25000/-
To cash /Bank 25000/-
(being advance salary paid to Vijay)
Second entry when Salary due-
journal entry
Salary a/c dr 25000/-
to Vijay a/c 25000/-
(Being salary paid to Vijay)
If Salary is 25000/-
Is This Answer Correct ? | 41 Yes | 18 No |
Post New Answer View All Answers
in a every intervew asking one common question why you are living current employer, which is the best answer
what is sales life cycle???
what salary you expect???
please send me some previous sbi clerical interview questions to my email id....
what is the scenario of multi-org setup?
your parents have lent you $20,000 to buy a car and have told you to pay it back whenever you like in conceptual framework
I want to know that if i get call from Mumbai Circle in SBI. what does it mean where will be my posting and my job profile, will i get accomodation from bank or not.
what are the questions commomly asked in reuter's interview.?
give the details of overheads which are not included in costing
paid two years rent N1200, bought Motor van for cash N3000
how to solved the shares qusionas ?
sir,how to get strong position in finance .how to get good position in company. qulification.Msc,MBA
EXPAND___________NBW
Which element do you need to enter during document posting to distinguish between international and local GAAP (generally accepted accounting principle)?(any 2 answer) • Account group for the account approach • Ledger for the ledger approach • Ledger group for the ledger approach • Account for the account approach
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c