salary is paid to a person A wrongly twice a month and
after detecting the mistake the salary is paid to the right
person B.write the journal entry for the two sequences.
Answers were Sorted based on User's Feedback
Answer / raheem
B'S SALARY A/C Dr.
To A's salary A/c
we can also pass in this sort
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / muniraj
1) For normal payment of salary
A's Salary account should be debited
Bank/Cash account should be Credited
Before pay to B person the above entry should be revesed.
2) For payment of B
B's Salary account should be Debited
Bank/Cash account should be Credited
| Is This Answer Correct ? | 10 Yes | 1 No |
Answer / joy.p
Detecting entry :- Cash/Bank Account Dr.
to A's Salary Account
When salary paying to the right person B:- B's salary A/c Dr
to Cash/Bank A/c
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / sankar
1st METHOD
A's salary A/c Dr
to Cash/Bank A/c
Detecting entry :- Cash/Bank Account Dr.
to A's Salary Account
When salary paying to the right person B:- B's salary A/c Dr
to Cash/Bank A/c
2nd METHOD
A's salary A/c Dr
to Cash/Bank A/c
B'S SALARY A/C Dr.
To A's salary A/c
| Is This Answer Correct ? | 4 Yes | 0 No |
Hi All, Can any body Explain the End to End Flow of Product Costing in SAP with Integration Point and Journal Entries Involved in the Flow ?
What are direct and indirect taxes?
how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..
Can CPF share given by govt. added in the Financial gross salary while calculating Total gross salary at the end of Financial year.For eg: My gross salary is Rs.X during a Fin. year & govt share of CPF is Y then Total Fin. Year gross salary is =X+Y,is it correct?
Reconciliation a/c in SAPM ERP
how to calculate closing stock...? include direct exp or not...
give 3 reasons why capital is referred to as a special liability
What is basic difference between loan and investment?
what is debit note & credit note?
if cheque bounced what we received from customers and payed to bank what entry should we create in single entry system
What is accounting transaction?
what is the difference between debtors & bills recievable?