please tell me debit credi entry , in respect of salary
advance and how to deduct,advance paid to employee
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Answer / k. phanindra kumar
On Advance payment of Salary:-
Prepaid Salary a/c Dr.
To cash/bank A/c Cr.
when Salary actually Paid.
salary a/c Dr.
To Prepaid Salary a/c
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / madhu
at the time of salary paid in advance:
salary advance a/c Dr.
Bank/cash Cr.
At the time of salary paid
salary a/c Dr
salary advance Cr
salary payable Cr
| Is This Answer Correct ? | 4 Yes | 0 No |
entry is as below
On Advance payment of Salary:-
Prepaid Salary a/c Dr.
cash/bank A/c Cr.
when Salary actually Due and Paid.
Salary A/c Dr.
Prepaid salary A/c cr.
Cash / Bank A/c Cr.
| Is This Answer Correct ? | 9 Yes | 6 No |
Answer / amit rathaur
at the time of salary paid in advance
prepaid Salary a/c Dr.
Bank/Cash
(Being salary advance paid to xyz)
At the of salary due.
Salary a/c Dr.
Prepaid Salary Cr.
(Being advance adjusted in salary for the month of .... to
xyz)
| Is This Answer Correct ? | 1 Yes | 0 No |
at the time of salary paid in advance :
Advance against Salary Dr.
Bank / Cash Cr.
At the time of salary due :
Salary Dr.
Advance against Salary Cr.
Salary Payable Cr.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / akshay kumar
Advance salary expenses ac dr
to cash/bank ac
at the time of salay payment
salary ac dr
to advance salary cr
to cash/bank cr
| Is This Answer Correct ? | 0 Yes | 0 No |
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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 return 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.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing 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 annual 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 installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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