Interested to Buy Any Domain ? << Click Here >> for more details...
Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?
- 5 Answers
- 10511 Views
- Infogain, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / jalu
Advance paid to Employee 1000$. Employee incurred expenses
of 800$ and he returned 200$. What is the Accounting Entry?
Advance paid to employee:
Prepaid expenses a/c dr 1000$
To Cash a/c 1000$
Employee incurred expenses entry:
Employee miscellaneous exp a/c 800$
To Prepaid expenses a/c 800$
For Return:
Cash a/c Dr 200$
To Prepaid expenses 200$
am i right?
| Is This Answer Correct ? | 19 Yes | 0 No |
Entry for Advance
prepaid expences....D/r
TO cash
Entry for Expenses Incurred
Employee exp A/c........D/R
To liability
Entry for Advance Adjustment
liability......D/R
To prepaid Expenses
for receiving remaining
Clearing a/c......D/R
to Prepaid Expenses
Cash A/c .....D/R
Clearing A/c
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / prasanna kumar sahoo
Advance paid to Employee
Prepaid expense a/c dr $1000
To Cash a/c $1000
Incurred exp and return remaining money
Employee misc expense a/c dr $800
Cash a/c dr $200
To Prepaid expense $1000
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / venkatesh
for prepaid expences
prepaid expences....D/r
TO cash
for employee expences
employee exp a/c........D/R
To liability
adjustment of prepayment
liability......D/R
To prepayment
for receiving remaining
cash....D/R
To liability
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / sami
Hi friends,
I would like know whether i can enter a invoice in closed period.. if the answer is no then please let me know how to enter the invoice of current period which has not been recorded in open period.
because that period is closed.
Please in detail..
| Is This Answer Correct ? | 0 Yes | 0 No |
What is Mo security profile and Mo operating unit? Why use this profile option ?
What is Interest Invoice and how it can be created?
If the COA of the parent and child are difference then how will the consolidation be done?
process from PO to Asset creation, with accounting entries.?
HI, waht is the difference between security rule v/s Balance segmetn values in R12. what is the exact purporse of Balance segment vlaues? expalin with an example.
Which interface tables are used for Invoice Import , give the important columns?
What could be the probable reason for Not Showing the Taxes in Project Draft Invoices?
What is the difference between PO default and quick match?
Can somebody provide me the various or atleast most frequent issues a support consultant deal with?
im interested making my careein oracle financials platform. my bkgund is btech cse,MBA in mkt,hr.having 3+experience.in hr work. pls suggest me .wht can i do
Expalin TCA architecture, why it was introduced in R12?
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thank you in advance for your help.
Oracle Apps Technical 
