Answer / nagu

Journal Voucher
1) Salaries A/c 1,00,000 Dr
Tds Payable - Salaries A/c 20,000 Cr
Professional Tax Payable A/c 200 Cr
Salaries Payable A/c 79,800 Cr

Payment Vouchers

2) Salaries Payable A/c 79,800 Dr
Bank A/c 79,800 Cr

3) Professional Tax Payable A/c 200 Dr
Bank A/c 200 Cr

4) Tds Payable - Salaries A/c 20,000 Dr
Bank A/c 20,000 Cr

Answer / kavita

Salary a/c Dr 100000
TDS A/C Cr 20000
PF TAX A/C Cr 200
Bank A/C Cr 79800

Answer / arun rawat

Journal Voucher

Salary A/c Dr. 100000
To TDS Payable A/c 20000
To ProfessionalTax Payable A/c 200
To Salary Payable A/c 79800

Payment Voucher
Salary Payable A/c Dr. 79800
To Bank A/c 79800

Payment Voucher
TDS Payable A/c Dr. 20000
ProfessionalTax Payable Dr. 200
To Bank A/c 20200

Answer / bijeesh

BY SALARY A/C 100000
TO BANK A/C 79800
TO TDS A/C 20000
TO PF A/C 200

Answer / vinay kumar

For Journal Entry press F7
1) Salary A/c Dr 1,00,000/-
To Salary Payable Cr. A/c 79,800/-
To TDS Payable Cr. A/c 20,000/-
To P.Tax payable Cr. A/c 200/-
(being salary due for the m/o the-----)
For Payment Entry Press F5
1) Salary Payable Dr 79,800/-
To Bank A/c Cr. 79,800/-
(being salary paid for the m/o----)
2)TDS Payable A/c Dr 20,000/-
To bank A/c Cr. 20,000/-
3) P.Tax Payable A/c Dr. 200/-
To Bank A/c Cr. 200/-

Answer / ameer khusro

BY SALARY a/c 100000
BY Less TDS -20000
BY less pf Tax -200
total

To Bank a/c 79800

Answer / shyam sagar

Ans. No. 4 given by Nagu is correct for maintained proper
accounting. firt have to stand liabilities by pass the
provissional entry. then paid. thanks.. regards..Shyam Sagar

Answer / h.r. sreepada bhagi

Arun Rawat's answer is detailed and is the correct procedure
in accounting.

Answer / maqbool ahmed

please pass in the entry in payment voucher f5
salary a/c is debit 100000
TO TDS 20000
TO Professional tax 200
TO bank 79800
100000 100000
(Narration being salary paid trough bank )

i have dot regarding journal entry on capital A/c, int cap A/c --- dr cap a/c is it correct , if so y can u give an answer

2 Answers  

does deposit fall under current assets ?

1 Answers   ABC,

hi all I am new here, I would like to ask one question. when a company (MNC) is following more than one accounting principle then what are the areas we need to change in sap.

1 Answers  

what diff, between companay balance sheet and indivisual balance sheet?

1 Answers  

What is the difference between Invoice and Performa Invoice ?

3 Answers  

Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?

0 Answers   IIRM,

Define "book value" as applied to accounting

0 Answers  

Why closing stock are not shown in trial balance?

4 Answers   PSU,

what is accounting

3 Answers   Redington,

What is American approach? Why do we use it inspite of Modern approach or Enlish approach ?

1 Answers   HCL,

if rs 200 has to be charged in one A/c but had been wrongly charged in another A/c.what entry will be pass to correct the entry

3 Answers  

How much mathematics knowledge is necessary or required in accounting?

0 Answers