if a company has to pay the salary in the month of april for
the months of march,apil,and may to a person who joined in
the company on 15march.
what are the entries for the transaction ?
Answer Posted / neelam
31st march:
Salary A/c Dr. Rs.xxx
To Outstanding Salary A/c cr. Rs.xxx
(Being 15days(Joining Dt.15th) salary to be paid)
30th april:
Outstanding Salary A/c Dr. Rs.xxx
Salary A/c Dr. Rs.xxx
Prepaid Salary A/c Dr. Rs.xxx
To Cash A/c cr. Rs.xxx
(Being O/s. Salary paid for the month of march, salary paid
for the month of april and Prepaid salary for the month of
May)
31st May:
Salary A/c Dr. Rs.xxx
To Prepaid salary A/c Cr. Rs.xxx
(Being May month salary now adjusted from Prepaid salary
a/c)
Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?
In SAP FICO How many ways we are Procuring the assets in the Company?
What is the meaning of Debt reconciliation and how to do debt reconciliation?
hi.this krishan .i m slect in axis bank for executive. when i sposse to join
why are you selecting for the profitbulity analysis costing based& active based
MAY I PREPARE TAX INVOICE FROM MFG UNIT TO RETAILER DIRECTLY?
What is Merchandising Accounting process
Whether construction of office cum storage comes under CMA under Agriculture or Non Farm Sector
What is Goods Lost by Fire/Accident/Theft ?
a) What are the Golden Rules of Accounting? What are the 14 Principles of Accounting
Please explain a Representative Personal Account.
WHAT IS BANK RECONCILIATION STATEMENT? DIFFERENCE BET PUBLIC COMPANY AND PRIVATE COMPANY? MEMBERS IN PUBLIC CO AND PRIVATE COMPANY? WHAT IS DEPRECIATION?
All shot cut key use in the tally software & it's uses
if you fix salary to some body for Rs.10000/- what are the segregations to be done and what are the deductions to be done (segregations like basic, da,ta,conveyance etc., how ? what percentage what speaks law) and deductions what are those like, pf,esi,pt, etc., what ever
cost accounting process