if a company has to pay the salary in the month of april for the months of marc

if a company has to pay the salary in the month of april for
the months of march,apil,and may to a person who joined in
the company on 15march.
what are the entries for the transaction ?

Question Posted / guest

3 Answers
8063 Views
Genpact, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

if a company has to pay the salary in the month of april for the months of march,apil,and may to a ..

Answer / neelam

31st march:

Salary A/c Dr. Rs.xxx
To Outstanding Salary A/c cr. Rs.xxx
(Being 15days(Joining Dt.15th) salary to be paid)

30th april:

Outstanding Salary A/c Dr. Rs.xxx
Salary A/c Dr. Rs.xxx
Prepaid Salary A/c Dr. Rs.xxx
To Cash A/c cr. Rs.xxx
(Being O/s. Salary paid for the month of march, salary paid
for the month of april and Prepaid salary for the month of
May)

31st May:

Salary A/c Dr. Rs.xxx
To Prepaid salary A/c Cr. Rs.xxx
(Being May month salary now adjusted from Prepaid salary
a/c)

Is This Answer Correct ?

8 Yes

0 No

if a company has to pay the salary in the month of april for the months of march,apil,and may to a ..

Answer / gopal singh mehta

For the Month of March Salary:
At the Time of Accrual:
Salary Exp Dr.
Salary Payable Cr.

At the time of payment:
Salary Payable Dr.
Bank/Cash Cr.

For the Month of Apr. & May.
At the time of payment of salary in the Month of Apr.
Prepaid Salary A/c Dr.
Bank/cash Cr.

If there is any mistake let me know.

Thanks,
Gopal Singh Mehta