Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he retur

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Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?

Question Posted / himansu_er

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Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is th..

Answer / jalu

Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?

Advance paid to employee:
Prepaid expenses a/c dr 1000$
To Cash a/c 1000$

Employee incurred expenses entry:
Employee miscellaneous exp a/c 800$
To Prepaid expenses a/c 800$

For Return:
Cash a/c Dr 200$
To Prepaid expenses 200$

am i right?

Is This Answer Correct ?

19 Yes

0 No

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is th..

Answer / rameh reddy

Entry for Advance

prepaid expences....D/r
TO cash

Entry for Expenses Incurred

Employee exp A/c........D/R
To liability

Entry for Advance Adjustment

liability......D/R
To prepaid Expenses

for receiving remaining

Clearing a/c......D/R
to Prepaid Expenses

Cash A/c .....D/R
Clearing A/c

Is This Answer Correct ?

3 Yes

1 No

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is th..

Answer / prasanna kumar sahoo

Advance paid to Employee

Prepaid expense a/c dr $1000
To Cash a/c $1000

Incurred exp and return remaining money

Employee misc expense a/c dr $800
Cash a/c dr $200
To Prepaid expense $1000

Is This Answer Correct ?

3 Yes

2 No

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is th..

Answer / venkatesh

for prepaid expences

prepaid expences....D/r
TO cash

for employee expences

employee exp a/c........D/R
To liability

adjustment of prepayment

liability......D/R
To prepayment

for receiving remaining

cash....D/R
To liability

Is This Answer Correct ?

4 Yes

4 No

Advance paid to Employee 1000$. Employee incurred expenses of 800$ and he returned 200$. What is th..

Answer / sami

Hi friends,
I would like know whether i can enter a invoice in closed period.. if the answer is no then please let me know how to enter the invoice of current period which has not been recorded in open period.
because that period is closed.
Please in detail..

Is This Answer Correct ?

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0 No

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