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if a company has to pay the salary in the month of april for
the months of march,apil,and may to a person who joined in
the company on 15march.
what are the entries for the transaction ?

Question Posted / guest

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if a company has to pay the salary in the month of april for the months of march,apil,and may to a ..

Answer / neelam

31st march:

Salary A/c Dr. Rs.xxx
To Outstanding Salary A/c cr. Rs.xxx
(Being 15days(Joining Dt.15th) salary to be paid)


30th april:

Outstanding Salary A/c Dr. Rs.xxx
Salary A/c Dr. Rs.xxx
Prepaid Salary A/c Dr. Rs.xxx
To Cash A/c cr. Rs.xxx
(Being O/s. Salary paid for the month of march, salary paid
for the month of april and Prepaid salary for the month of
May)


31st May:

Salary A/c Dr. Rs.xxx
To Prepaid salary A/c Cr. Rs.xxx
(Being May month salary now adjusted from Prepaid salary
a/c)

Is This Answer Correct ?    8 Yes 0 No

if a company has to pay the salary in the month of april for the months of march,apil,and may to a ..

Answer / gopal singh mehta

For the Month of March Salary:
At the Time of Accrual:
Salary Exp Dr.
Salary Payable Cr.

At the time of payment:
Salary Payable Dr.
Bank/Cash Cr.

For the Month of Apr. & May.
At the time of payment of salary in the Month of Apr.
Prepaid Salary A/c Dr.
Bank/cash Cr.


If there is any mistake let me know.

Thanks,
Gopal Singh Mehta


Is This Answer Correct ?    7 Yes 4 No

if a company has to pay the salary in the month of april for the months of march,apil,and may to a ..

Answer / chandu

march 31 the entry is
salary a/c dr
to salary payable a/c
at the time of salary paying
salary payable a/c dr
to cash a/c

Is This Answer Correct ?    2 Yes 3 No

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