New emlpoyee was joined on 15th Jan and salary paid on 28th
Feb amt of Rs.20000/- and asked to give the Journal entry
for the Month of Jan, Fed and March (His Monthly Salary is
Rs.8000/-)
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Answer / raghunath
31st Jan:
Salary A/c Dr. Rs.4000.00
To Outstanding Salary A/c cr. Rs.4000.00
(Being 15days(Joining Dt.15th) salary to be paid)
28th Feb:
Outstanding Salary A/c Dr. Rs.4000.00
Salary A/c Dr. Rs.8000.00
Prepaid Salary A/c Dr. Rs.8000.00
To Cash A/c cr. Rs.20000.00
(Being O/s. Salary paid for the month of Jan, salary paid
for the month of Feb and Prepaid salary for the month of
Mar)
31st Mar:
Salary A/c Dr. Rs.8000.00
To Prepaid salary A/c Cr. Rs.8000.00
(Being March month salary now adjusted from Prepaid salary
a/c)
| Is This Answer Correct ? | 54 Yes | 3 No |
Answer / sanjeev dogra
31st Jan.
Salary a/c Dr. 4000
To outstanding salry 4000
(Being salary payable for the m/o jan.)
28th feb.
outstanding salary a/c Dr. 4000
prepaid salary a/c Dr. 8000
Salary a/c Dr. 8000
To cash/Bank a/c 20000
(Being outstanding salary adjusted for the m/o Jan.and
salary paid for the m/o feb.and pepaid salary m/o march)
31st march
salary a/c Dr. 8000
To prepaid salary a/c 8000
(Bing salary adjusted in the m/o feb.)
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / biplab acharjee
Jan: Salary ---- Dr. 4,000
To, Salary Payable 4,000
Feb. 28. : Salary Payable Dr. 4,000
To, Cash 4,000
: Salary ----- Dr. 8,000
Advance Salary ---- Dr. 8,000
To, Cash 16,000
March. : Salary ------ Dr. 8,000
To, Advance Salary 8,000
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / satyaki_raju@yahoo.com
On 31 st January
Salary a/c dr 4000
To Outstanding salary 4000
(salary outstanding for the month of Jan)
On 28th Feb
Salary outstanding a/c dr 4000
salary a/c dr 8000
Advance salary a/c dr 8000
To Cash a/c 20000
(Being Jan outstanding salary,Feb salary along with Advance
for the month of March)
31 st march
Salary a/c dr 8000
To Advance salary a/c 8000
(Being advance given in the month of Feb adjusted now)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / shabeer shaik
31st Jan:
Salary A/c Dr. Rs.4000.00
To Outstanding Salary A/c cr. Rs.4000.00
(Being 15days(Joining Dt.15th) salary to be paid)
28th Feb:
Outstanding Salary A/c Dr. Rs.4000.00
Salary A/c Dr. Rs.8000.00
Prepaid Salary A/c Dr. Rs.8000.00
To Cash A/c cr. Rs.20000.00
(Being O/s. Salary paid for the month of Jan, salary paid
for the month of Feb and Prepaid salary for the month of
Mar)
31st Mar:
prepaid Salary A/c Dr. Rs.8000.00
To salary A/c Cr. Rs.8000.00
(Being March month salary now adjusted from Prepaid salary
a/c)
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / santosh kulkarni
salaries a/c Dr. 12000.00
salaries advance a/c Dr. 8000.00
To Cash / Bank Cr. 20,000.00
(Being Salary paid for the month of April 15days and Feb Month salary and Rs. 8000.00 paid in advance against salary)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / narasimha rao
salary paid on 28th feb when entry
for example this employee RAMESH
THE 20000 AMOUNT IS SALARY ADVANCE
RAMESH A/C Dr 20000
to BANK A/C 20000
WHEN JAN AND FEB SALARY PAID
SALARY A/C Dr 12000
To RAMESH A/C 12000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / raja
15th Jan
Salary A/c Dr Rs.4000
cash A/c Rs.4000
28th feb
Salary A/C Dr Rs. 8000
Incentive A/c Dr Rs.12000
Cash A/c Rs.20000
31th mar
Salary A/c Dr Rs.8000
Cash A/c Rs.8000
| Is This Answer Correct ? | 20 Yes | 20 No |
Answer / shivani
Outstanding salary Dr. 4000
Salary A/C Dr. 8000
Prapaid salary Dr. 8000
To BankA/c or Cash A/c 20000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / s.k.barat
Since the question itself is a little ambiguous any
presumption of either Incentive or Advance Salary / Prepaid
Salary have to be considered as appropriate, however no one
has explained the 'presumptive aspect'
The students would do better by indicating their such
presumptions.
| Is This Answer Correct ? | 0 Yes | 0 No |
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