Answer Posted / sateesh kumar reddy.p

Salary A/c___Dr.                                10000
Employer-ESI Contribution A/c____Dr.            475
Empolyer-PF Controbution A/c_____Dr.            1200
  Employee-ESI Contribution Payable A/c______Cr.     175
  Empolyee-PF Controbution Payable A/c_____Cr.       1200
  Employer-ESI Contribution Payable A/c______Cr.     475
  Empolyer-PF Controbution Payable A/c_____Cr.       1200
  Professional Tax Payable A/c_____Cr.               150
  Salary Payable A/c_______Cr.                       8625

Here Employer-ESI&PF Contribution A/c's claim as indirect expenses.

Payment Entry.

1.Salary Payable A/c____Dr.            8625 
        Cash/Bank A/c______Cr.              8625
Payment to Employee.

2.PT payable A/c____Dr.                150
        Cash/Bank A/c______Cr.              150
Payment to State Govt.

3.Employee-ESI Contribution Payable A/c____Dr.    175
  Empolyee-PF Controbution Payable A/c___Dr.      1200
  Employer-ESI Contribution Payable A/c____Dr.    475
  Empolyer-PF Controbution Payable A/c___Dr.      120
        Cash/Bank A/c____Cr.                        1970       
Payment to Central Govt.

What is definition of a cash float in accounting?

1218

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in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.

2107

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what is the format of salary slip when basic , D.A.H.R.A. ,conveyance allowence , concluded and in deduction part P.F. E.S.I. & P.Tax.

3894

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What is an interest rate swap

2286

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how sales invoices adjusted against advance received from Debtor?

1941

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Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.

1735

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sir, i want t know, i got a cheque frm sindhu (that amount i gave her as rent advance, she is returning nw) bt the cheque has cancled and bank take cheque return charges so plz give this journal entries.

1403

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In tally when accounts with inventory ,when working in units of measurement under this after creating unit ,if we want to change the unit due to some mistake why does the cursor does not stop in the decimal field? And why the used units do not get deleted in the alter section?

1923

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PLZZZZZZZZZZZZ HELP ME FOR THE PREPARATION OF TEST JR.EXECUTIVE (ADMIN)IN ATM IAM APPEARED 1ST TIME IN THIS TEST MY TEST CENTER IS RAWALPINDI MY CONTACT NO IS 03338907330

5030

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give 3 reasons why capital is referred to as a special liability

1844

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Volga is a large manufacturing company in the private sector. In 2007 the company had a gross sale of Rs.980.2 crore. The other financial data for the company are given below: Items Rs. In crore Net worth 152.31 Borrowing 165.47 EBIT 43.17 Interest 34.39 Fixed cost (excluding interest) 118.23 Calculate: a. Debt equity ratio b. Operating leverage c. Financial leverage d. Combined leverage. Interpret your results and comment on the Volga’s debt policy

2912

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can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power

1807

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what is the difference b/w gain and profit?

2002

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In South Africa, the value added tax is administered by?

1714

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how to account branches in tally

2483

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