Answer / suryakiran

Salary a/c Dr
To Salary payable a/c

Answer / divakar chaudhary

Salary A/c Dr
Salary Payable A/c Cr


Salary Payable A/c Dr
Cash/Bank A/c Cr

Answer / tejas birajdar

In the month of March we have to accrue this cost as the
expnese is pertianse to this month & which is not paid.
Month of March entry would be
Salary a/c dr xxx
To Salary payable a/c xxx
( Being accrual made for march)

In the April month the actual transaction took place so the
entry would be

Salary payable a/c Dr xxx
to Cash a/c xxx
(Being salary paid for the month of March)

Answer / gayathri

salaries A/c dr
to outstanding salaries a/c

Answer / vijay

In March JV will be passed as

Salaries A/c Dr. xxx
To Outstanding liabilities A/x Cr. xxx

In April -- March month salary will be paid so

Outstanding liabilities A/c Dr. xxx
To Bank/Cash A/c Cr. xxx

Answer / srinadh

Salary A/c Dr
To Salary payable A/c

Answer / omesh manhas

on 31 march entry will be:

salary a/c dr
To salary payable(employee)a/c.

Being salary due for m/o march.

In m/o april entry will be:

salary(employee)a/c dr
To cash/bank a/c

Answer / srinadh

Salary a/c Dr XXX
to Salary payable a/c XXX
(Being Salary payble for the Month of March)


Payment entry:

Salary payable a/c xxx
(Being salary paid for the Month of March)

Answer / omer

Any expenses like this you need to accrue it in the
particular month it self, then in April you have to DR
Salary and CR the Accrual

Answer / pankaj sasrswat

salary a/c Dr

To salary payble

can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power

0 Answers   Ram and Associates,

what is the provisional of salary?

3 Answers   AgriGold,

were you happy with the grades you achieved at a-level?

0 Answers  

What is the entry to be made when any service tax is paid for any vehicle hired or any service used when tax is included in that bill

1 Answers  

define cost control?

1 Answers   Mona Lisa,

DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?

0 Answers  

Can u please send me a set of accounting base questoin with answer,genraly ask by interviewer?

0 Answers   Wipro,

what is the difference between journal voucher and contra

3 Answers   Genpact,

Why do you prepare a P/L Appropriation a/c?

3 Answers  

suppose total salaries paid is 10000, 1000 is outstanding. how & which amount will shown in receipts & payment, income & expenditure and balance sheet accounts

2 Answers  

what is tribal area allowance means

0 Answers   Chartered Accountant,

1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.

3 Answers