How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
Answer Posted / vishalgoel88@yahoo.com
At the time of Advance
Employee advance a/c dr...... 20000
TO Cash a/c..... 20000
To record the expenses
Venue expenses a/c dr... 1000
Food expenses a/c dr...... 10000
Travelling expenses a/c dr.... 4000
Accommodation expenses a/c dr.... 6000
To Employee advance 20000
To Cash 1000
(Actual expenses were more than the advance, the employer would have to reimburse the employee.)
Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
what is consignment entry?
What is dd and a in oil and gas accounting?
How do you handle rejection?
entry for cash received from debtors
give 3 reasons why capital is referred to as a special liability
How do you prepare mis reports?
Can anybody tell me diference between provisions of Profit and Loss account prepared as per company act & Income Tax Act?
what do you maen by Expected rate of return ? Is there any formula for expected rate of return? what is systematic & unsystematic risk ? how to calculate both the risk?
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.
WHAT IS ACCOUNTING HEAD FOR TRADE FINANCE? I HAVE PAID 49268 FOR TRADE FINANCE.WHERE SHOULD I TAKE IN TALLY
1.A Company with a net income of $ 7,650 in a year and has 3,000 outstanding shares. Calculate the Earning per Share (EPS).
what is cost unit n what is cost sheet?
What do you know about this position?
What is a ledger? What do you mean by ledger posting?
if I m taking a loan from bank of AED 20 lakhs @ 10.25% per annum for 10 years how much amount as intrest I need to pay in this 10 year period of time to bank.