Interested to Buy Any Domain ? << Click Here >> for more details...
"i have received half of the salary in advance and another
half in the end of month" what will be the journal entry for
this?
- 6 Answers
- 16388 Views
- ACS, Genpact, I also Faced
- E-Mail Answers
Answer Posted / yogendra.c
In the books of Employee (Receiver)
----------------------------------
1. Advance Salary:
Dr. Bank A/c
Cr. Advance Salary from X Company A/c (Liability)
2. Regular Salary Receipt
Dr. Bank A/c
Cr. Salary Receivable A/c
3. Provision Entry
Dr. Advance Salary A/c
Dr. Salary Receivable A/c
Cr. Salary A/c
4. Closing Entry
Dr. Salary A/c
Cr. P&L A/c
In the books of Employer (Companies)
------------------------------------
1. Advance Salary
Dr. Advance Salary to Mr.Y A/c
Cr. Bank A/c
2. Provision Entry
Dr. Salary A/c
Cr. Advance Salary to Mr. Y A/c
Cr. Salary Payable A/c
3. Payment Entry
Dr. Salary Payable A/c
Cr. Bank A/c
4. Closing Entry
Dr. P&L A/c
Cr. Salary A/c
Any other doubts??
mail me at delip.yogendra@gmail.com
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
Does anybody know anything about BirlaSoft? I got a job offer, they sent me a contract to sign and return, but thank God they didn't ask for any money! But, they said they would send me a check in the mail. And as my first "task" I would have to use that check to order a bunch of accounting software, and I would need to purchase this software ONLY from the vendors that THEY provide. Is this a scam to just get money? I'm wondering if they "own" the vendor they "work" with and launder money that way. I asked the person who was getting my information, as far as my name and address to send the check to, Why would I have to buy software to install in my home computer anyway? Couldn't they just send me a link for the software to download? I'm afraid of the check being fake. Because, if I deposit the check into my checking account and it turns out to be fake, then I'll owe the bank all that money! Hope to hear from someone soon. Thanks.
In Service tax Return ST-3 What is meaning of first Row (i) Service tax payable (a) Gross amount received in money (I) Against service provided Pls explain in detail
What are the major components of country's trade account?
Explain what is account receivable?
we have a bill for billing software modification, i want to know that which head post this entry in tally & also tds applicable or not.
Tell me what is public accounting?
What is meant by daily accrual and booking?
Explain the accounts payable cycle
Explain me have you ever heard about tds, what it is?
How i should sellone the mobile phone when interviewer will ask sell this phone to me?
what accounts payable applications are your familiar with?
What is full rate on plywood box in haryana sale tax:
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
how to solve cashbook question
What Is Differ tax,
