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Aravinds gross salary is 15000/-Pass entry adjusting 150
profession tax, Advance adjustment 1500/-
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Answer Posted / s.v.ramana
Salaries a/c Dr 15,000
To Professional Tax payable a/c 150
To Salary Advance a/c 1500
To Salary payable a/c 13350
| Is This Answer Correct ? | 31 Yes | 1 No |
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
