what is entry for salary paid in advance ?
Answers were Sorted based on User's Feedback
Answer / nitesh chaubey
profit & loss A/c .. ..Dr.
To salaries pay in advance A/c..
(being salaries payed in advance ....... rs.)
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sonu sharma (ca-final)
journal
Salary A/c Dr 25000
To Employee A/c 25000
(Being Salary Due)
Payment......
Advance Salary A/c Dr 10000
To Cash A/c 10000
(Being Advance Salary Paid)
Payment.........
Employee A/c Dr 25000
To Advance Salary A/c 10000
To Cash A/c 15000
Being Salary Paid)
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / sandeep
journal Entry is........
Salaries a/c ... Dr
To salary Advance a/c..
Payment Entry is.........
Salary payable a/c... Dr
To Salaries a/c..
Is This Answer Correct ? | 27 Yes | 26 No |
Answer / bijoy
salary advance a/c Dr.(under 'loans and advances' asset)
To, cash a/c
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / aditya panigrahi
If Total Salary is 10,000/-
And Advance 5,000/-
Balance Payble Amt. 5,000/-
Then Entry Pass on Tally
1. Payment Voucher
Salaries A/c . Dr 5,000/-
to Cash / Bank A/c 5,000/-
2. On Payble Time Pass Entry on Payment Voucher
Saries Payble A/c Dr. 10,000/-
to Loan & Advacne A/c Cr. 5,000/-
to Csh / Bank A/c Cr. 5,000/-
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mohammed
Salary 10000
Paid in advance 2000
Salary Advance A/c Dr 2000
Cash 2000
When Paying Salary deduct advance with Simple entry is
Salary Account Dr 10000
To Cash 8000
To Salary Advance 2000
Salary Advance account will get knocked off.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mohammed sawaz sharief
FOR SALARY PAID IN ADVANCE ENTRY IS
SALARY A/C DR (UNDER HEAD INDIRECT EXPENSES)
TO SALARY PAID IN ADVANCE A/C (UNDER LOAN AND ADVANCES)
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / suhail
first entry
salary advance a/c Dr 5000
cash/bank a/c Cr 5000
next entry
salary a/c Dr 20000
salary advance a/c Cr 5000
cash/bank a/c Cr 15000
Is This Answer Correct ? | 0 Yes | 0 No |
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