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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 Posted / 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 |
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