Answer / narendra kumar singh

There will be two entries for this in the books of employer:
1. entry at the time of paying salary advance (half month
salary)
Dr. Salary Advance A/c
Cr. Cash/Bank A/c

2. entry at the time of paying half month salary in the end
of the month.
Dr. Salary A/c (full monthly Salary)
Cr. Salary Advance A/c ( half salary)
Cr. Cash/Bank A/c

Answer / dheer singh rathore

There will be two entries for this in the books of employer:
1. entry at the time of paying salary advance (half month
salary)
Dr. Salary Advance A/c
Cr. Cash/Bank A/c

2. entry at the time of paying half month salary in the end
of the month.
Dr. Salary A/c (full monthly Salary)
Cr. Salary Advance A/c ( half salary)
Cr. Salary Payable A/c

Answer / rohit bajaj

At the time receive advance

Salary Advance Dr
cash/bank cr

At the end of month entry for salary due

Salary (full amt) Dr
salary Advance Cr
Esi Payable (If gross salary =15000 @1.75%) Cr
P f Payable (if Basic < = 6500 @12%) Cr
Salary Payable Cr

At the time of payment

Salary Payable Dr
Bank/cash cr

Answer / yogendra.c

In the books of Employee (Receiver)
----------------------------------
1. Advance Salary:
Dr. Bank A/c
Cr. Advance Salary from X Company A/c (Liability)

2. Regular Salary Receipt
Dr. Bank A/c
Cr. Salary Receivable A/c

3. Provision Entry
Dr. Advance Salary A/c
Dr. Salary Receivable A/c
Cr. Salary A/c

4. Closing Entry
Dr. Salary A/c
Cr. P&L A/c

In the books of Employer (Companies)
------------------------------------
1. Advance Salary
Dr. Advance Salary to Mr.Y A/c
Cr. Bank A/c

2. Provision Entry
Dr. Salary A/c
Cr. Advance Salary to Mr. Y A/c
Cr. Salary Payable A/c

3. Payment Entry
Dr. Salary Payable A/c
Cr. Bank A/c

4. Closing Entry
Dr. P&L A/c
Cr. Salary A/c

Any other doubts??
mail me at delip.yogendra@gmail.com

Answer / harish kumar

There will be two entries for this entry
1. First advance half salary.
Dr. Advance (Name of the Person)Ram Lal A/c
Cr. Cash / Bank A/c
2. Second when you book salary
Dr. Salary Paid A/c
Cr. advance (Name of the person) Ram Lal A/c
Cr. Salary Payable A/c


Advance Ram Lal account will be Nil.

Answer / shivashankar

There will be two entries for this entry
1. First advance half salary.
Dr. Advance (Name of the Person)Ram Lal A/c
Cr. Cash / Bank A/c

2. Second when you book salary
Dr. Salary Paid A/c
Cr. advance (Name of the person) Ram Lal A/c
Cr. Salary Payable A/c

What is the unique thing about employees that employers expect to see at an interview.?

1 Answers  

1. WE RUN A OFFICE IN RENTAL BUILDING, MY QUESTION IS A) I TREAT THE OWNER OF A BUILDING AS CREDITOR AND PASS JOURNAL VOUCHER IN TALLY AT THE END OF THE MONTH (OR)I SIMPLY ACCOUNT THE RENT TO BE PAID AS OUTSTANDING EXPENSES AND AFTER AT THE TIME OF PAYMENT I PUT PAYMENT VOUCHER , PLEASE ADIVICE ANY OTHER OPTION ALSO?

1 Answers  

a person have to buy 2kg items out of 4 differnt price tag item i.e potatoo rs. 10 kg, onion rs. 5 kg , radish rs. 1 kg, and chilli rs. 1 kg in rs 10 how can he do

0 Answers  

WHAT IS LIABILITY?

6 Answers   WNS,

variable cost are fixed: 1) for a period 2) per unit 3) depend upon the entity 4) for a particular process of production

2 Answers  

what is account reconcillation

0 Answers  

what is contigencies?

6 Answers  

Do you think accounting standards are mandatory and why?

0 Answers  

golden rules of accounting

2 Answers  

contingent goods?

6 Answers   Genpact,

Entry of advance tax

7 Answers   AB Group,

How to do accounting entries in Accounts Payable

0 Answers   Accenture,