Journalise the following Entries?
Outstanding salary of rs. 20000/-
Prepaid insurance of rs. 5000/-
- 13 Answers
- 24592 Views
- OPI Global, I also Faced
- E-Mail Answers
Answer Posted / mudunoori
Sajeer saab You did a mistake in the second answer. Prepaid
insurance is an adjustment entry to be passed in the year
end. Insurance was already paid and entry was passed . with
your entry cash will be unnecessarily reduced to the tune
of 5000. So once again verify your answer and question. The
right answer is
Prepaid Insurance a/c Dr
Insurance a/c
(Prepaid insurance was created and reduced from insurance )
| Is This Answer Correct ? | 8 Yes | 3 No |
Post New Answer View All Answers
Hi, Please guide me in the TDS calculation. I know the slabs.But I dont have much idea about the deduction part.What is the need of Bsic and HRA while calculating TDS.Also I heard that LIC, Rent etc is excempted from TDS.Please guide me...my email id is tinjusyriac@gmail.com Thanks in advance..
Can we use ST-38 outward form for a sale of Rs-100000/- with in the state i.e haryana
We have paid service tax of March Bills on 30 March. we forgot to include some bills for service tax, now we can deposit the tax in april/may and how we enter the tax..in tally....
Kindly, tell me abount the WCT of U.P. material & labour supply for installment of lift in premises at Noida (U.P.), our lift supplier giving the bill in 90% material & 10% Labour & charged the up vat of 12.5% , Can we liable for WCT deductor ?
F FORM RECEIVED FROM SUPPLIER, NOT DEDUCTED GOODS RETURN AMOUNT THEREAFTER WHAT IS THE PROCEDURE DONE BY DEALER?
we are the manufacture of leather shoes, we send the shoe sample to some parties , can it we shown in RG1 Register , if shown then , where ? if not then why ?
is it necessary to use form38 in UP for purchase of goods from outside UP @5%CST Tax
What we mean by MAT Credit Entitlement ???
What is export under ribet notification number
Does the tax liability of an individual get affected due to his residential status? If yes, explain.
A person somehow gets hold of an extraordinary rare bird, keeps it as a pet for two years and then sells it off. Will related profit be taxable as capital gain?
IF MATERIAL TRFD. TO OTHER STATE BRANCH AS STOCK TRFD. IN FEBRUARY AND MATERIAL IS RECEIVED BY BRANCH IN THE M/O MARCH. THAN SHOULD WE ISUE A SEPARATE F FORM FOR THE M/O FEBRUARY AND MARCH
Hi,when we pass a clearing entry of paid and unpaid tax how do we show the business area the way the business area can be seen.is there any change that i have to do in the configuration of this GL.my client wants that the business area also reflects when we post the gl.please help.
Who is to paid income tax and what is the procedure of filling income tax return?
We have got 5 firms. Same partner only running all the firms. Salary is going from one firm. But if we go for PT registration it is asking number of employees. I don't know how to fill the form in online. Any one can help me?
