WE have paid two month Advance salary on dated 03 June 2010.
What will be journal entry inthe month of june for advance
payment. And what will be journal entry in the month of
july and August for salary adjustment.
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Answer / raj
ADVACE SALRY A/C DR 10000
TO BANK/ CASH 10000
( BEING ADVANCE PAID FOR THE MONTH OF JULYAND AUG 5K+5K IN
THE MONTH OF JUNE)
| Is This Answer Correct ? | 35 Yes | 0 No |
Answer / gagan singh
Advance Salary A/c RS. 20000/- DR
TO BANK/CASH RS.20000/- CR
BEING ADV AMOUNT PAID FOR M/O JUL & AUG'10 RS, 10K & 10k
RESPECTIVALY.
ENTRY FOR M/O JULY & AUG'10
SALARY A/C RS. 10000/- DR
Advance Salary A/c Rs. 10000/- CR
BEING AMOUNT OF ADV SLY ADJUSTED FOR SLY DUE IN M/O JUL'10
SAME AS M/O AUG'10
| Is This Answer Correct ? | 18 Yes | 0 No |
Answer / naveen
If Salary is 20000 p.m
in June
Salary Advance A/c Dr.40000
to Cash/ Bank A/c 40000
(Being the Adv. Salary paid for the month of July & Aug)
In july
Salary A/c Dr. 20000
to Salary Advance A/c 20000
(Being the Salary Advance recovered for July)
In August
Salary A/c. Dr. 20000
Salary Acvance A/c 20000
(Being the Salary Advance recovered for Aug )
| Is This Answer Correct ? | 13 Yes | 1 No |
Answer / bipinchandrajain
advance salary *****
To cash *****
(salary of july nd august paid in adv)
transaction for july
salary a/c dr ***
to adv salary ****
for august
salry a/c dr ****
to adv salary
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / chanchaldaw
Bank/Cash 10,000(cr)
Adv Salary 10,000(dr)
Being adv salary paid for the month of july & aug 5k+5k
| Is This Answer Correct ? | 3 Yes | 26 No |
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