Interested to Buy Any Domain ? << Click Here >> for more details...
DEAR ALL,
HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN
ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c
AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know
whether it is correct or not. If correct, in my individual
ledger no entry is reflected. Alternatively, if I debit my
self and credit petty cash a/c it is reflected in the P & L
Account, but it is not an expense. and not reflected in the
balance sheet, but reflected in P & L. I think I need to
put a journal entry. Like debiting the salary account and
crediting the salary advance account. Is this correct or
not? Can any one help me please. my mail add:
cdvijay100@yahoo.co.in or kmlnkml@live.com
- 13 Answers
- 54592 Views
- I also Faced
- E-Mail Answers
Answer Posted / mahendra
first entry payment is
Vijay a/c dr 25000/-
To cash /Bank 25000/-
(being advance salary paid to Vijay)
Second entry when Salary due-
journal entry
Salary a/c dr 25000/-
to Vijay a/c 25000/-
(Being salary paid to Vijay)
If Salary is 25000/-
| Is This Answer Correct ? | 41 Yes | 18 No |
Post New Answer View All Answers
what is data entry? what is report generation ?in accounting how it is used .
What is the meaning of Debt reconciliation and how to do debt reconciliation?
Hello every one i'm going to interview for as an account profile company is construction works so plz guys help me about furthering interview question
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
what is the scenario of multi-org setup?
How to increase our credit rating score quickly?
Where to enter bonus and pf esi in tally pls help for me
Is advance paid wages has credit balance?
hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview
How to raise my credit score if I have 500 credit score?
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
Short Answer on ________Adjusting Entries
plz send me the apptitude question papers of wipro
How can i prepare MIS report for Finance?
Which element do you need to enter during document posting to distinguish between international and local GAAP (generally accepted accounting principle)?(any 2 answer) • Account group for the account approach • Ledger for the ledger approach • Ledger group for the ledger approach • Account for the account approach
