Interested to Buy Any Domain ? << Click Here >> for more details...
Salary to the employee comes under expense or liabilty to the
co? how?
- 5 Answers
- 37432 Views
- Cap Gemini, I also Faced
- E-Mail Answers
Answer Posted / bharathi
When company paid salary to the employees it should be
treated as indirect expenses it will reflect in profit and
loss account.
The following entries to be passed in the books
Salary A/c
To Cash A/c
When Company not paid (to be paid) to the employees then it
should be treated as liability (because company has to pay
the salary to the employees - so it should be treated as
liability) it will reflect in Balance Sheet under the
coloumn Current Liabilities.
The Following entries to be passed in the books
Salary A/C dr (P&l a/c)
To Salary Payable A/c ( liability a/c)
(provision made for salary)
Once salary paid to the employees then the following entry
to be passed
Salary Payable A/c Dr.
To Cash/ Bank A/c
(Now the liability is nil) (provision which we have made is
cleared now)
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
why do you think you are sutable candidate for this post
about tally erp9
Examples of automatic generated content material of car logbook loans?
What is T+2 rolli g settlement cycle?
explain sales/purchase accounting?
Explain the word Liquidation
Hi, If I am placing the order in amazon on behalf of the customer who place the order in other e-commerce application in which If I mention the billing address of the customer and goods will be delivered to the customer from amazon ,and other E-commerce site will deduct their commission on the certain % and make the payment to me on some what profit at that time how should maintain my books of account..??
In SAP FICO How many ways we are Procuring the assets in the Company?
WHAT IS THE DIFFERENCE BETWEEN COST CONTRL & COST REDUCTION
What is Purchase Requisition means? Why we used this in MM Module in SAP? what is t.code of it?
whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account
For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax
what is the cost and financial accounting? what is double entry system ?
i want to sit for the written examination held by govt. sector like coal india, ongc for the post of accountant .. qualification ca inter.. plz any1 of u let me know on wht subjects the questions are asked and wht types of questions are asked... plz let me know.. plz
Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note
