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Suppose A company is giving salary to its employees on 10th
of every month. So on which date the salary payable entry
will be passed/due also tell what will be the general entry
for salary payable
- 3 Answers
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Answer Posted / subhash a.
Dear friend the above answer is absolutely correct. But it
is not teaching him to acquire knowledge properly.
It is the case of a company. Passing entry for each and
every employee may not be possible.
There is a general common entry should be at the end of
each month as below
Salary A/c Dr. xxx
To EPF Payable (employees' contribution only) xx
To ESI Payable (employees' contribution only) xx
To PT Payable (deducted from employees only) xx
To TDS Payable (if deducted from employees' only) xx
To Salary Payable (net amount only) xxx
AND
At the time of payment of salary
Salary Payable A/c Dr. xxx
To Cash / Bank A/c xxx
| Is This Answer Correct ? | 28 Yes | 2 No |
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