what is entry for salary paid in advance ?
Answers were Sorted based on User's Feedback
Answer / prasob.c.k
salary advance a/c Dr.(under 'loans and advances' asset)
To, cash a/c
Is This Answer Correct ? | 321 Yes | 42 No |
Answer / musthafa musu melattur
Advance Salary A/C 1000.00 Dr.
Cash A/C 1000.00 Cr.
next entry is
Salary A/C 1000.00 Dr.
Advance Salary 1000.00 Cr.
Is This Answer Correct ? | 255 Yes | 40 No |
Answer / yoosaf
TOTAL SALARY 10,000. Paid in Advance 2000
Journal
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
Then Payment
Salary Advance 2000 Dr.
To cash 2000. Cr
Balance Payment
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
Is This Answer Correct ? | 192 Yes | 47 No |
Answer / amit
Payment..
Advance salary a/c ...Dr.1000
To Cash / Bank a/c...Cr....1000
then
Journal
Salary a/c ...Dr. 5000
To Advance Salary a/c Cr. 1000
To Salary Payable a/c Cr. 4000
Payment
Salary Payable a/c ...Dr. 4000
To Cash / Bank ... Cr. 4000
Is This Answer Correct ? | 139 Yes | 11 No |
Answer / h.r. sreepada bhagi
As mentioned in the above answer salary advance is not given
to the employers. It's paid by the employers & employee is
implied as salary or salary advance is paid only to the
employees.
Whenever salary advance is paid debit the ledger A/c 'Salary
Advance' under Loans & Advances group. Whenever it's
recovered credit this account. If your software provides for
references, enter the name or ID No. of the employee for
control.
Is This Answer Correct ? | 72 Yes | 8 No |
Answer / saurabh
salary advance under current assest effactive.
entry will be passed:
Staff loan & advance Dr.
To Bank / Cash Cr.
Is This Answer Correct ? | 44 Yes | 6 No |
Answer / manoj v
Create individual ledger A/c for each employees (Sundry
Staff A/c under Loans and advance – Asset) when the advance
paid pass the entry as :- Name of Staff A/c …….Dr.
Is This Answer Correct ? | 43 Yes | 13 No |
Answer / smruti ranjan panda
Payment Entry
Salary Advance 2000 Dr.
To cash 2000. Cr
Journal Entry
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
When Payment Extra Amout
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
Is This Answer Correct ? | 18 Yes | 1 No |
Answer / mohamed rafeek
Journal
Salary A/c 10000 Dr.
Salary Advance 2000 Cr.
Salary Payable 8000 Cr
Then Payment
Salary Advance 2000 Dr.
To cash 2000. Cr
Balance Payment
Salary Payable A/c 8000 Dr
To Cash 8000. Cr
Is This Answer Correct ? | 15 Yes | 4 No |
Rent received in advance journal entry
excess cash withdraw from bank for staff salary than remain amount deposited into bank., what will be journal entries for above transactions
Tell me,as per companies which section P&L Account and balance sheet will be prepared
SIR HOW MANY FORM USE FOR COMMERCIAL TAX & WHAT IS THEIR USES. PLEASE GIVE YOUR SUGGEST
what is entry in the book in march and april for salary which is paid in april for march month?
13 Answers Infosys, Maya Buildcon,
WHAT ARE THE DISTINGUISH BETWEEN ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
What are the 4 phases accounting?
a company getting losses from last 3 years. if u r a analyst what u will recommend to u r clint.?
accounting concepts
Do you know what is the importance of team work in this position?
if issue the share capital what is entry pass the journal