"i have received half of the salary in advance and another
half in the end of month" what will be the journal entry for
this?
- 6 Answers
- 14357 Views
- ACS, Genpact, I also Faced
- E-Mail Answers
Answer Posted / harish kumar
There will be two entries for this entry
1. First advance half salary.
Dr. Advance (Name of the Person)Ram Lal A/c
Cr. Cash / Bank A/c
2. Second when you book salary
Dr. Salary Paid A/c
Cr. advance (Name of the person) Ram Lal A/c
Cr. Salary Payable A/c
Advance Ram Lal account will be Nil.
| Is This Answer Correct ? | 5 Yes | 5 No |
Post New Answer View All Answers
Explain me fair value accounting?
What is project implementation?
Who is considered the father of accounting?
ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
What are a debit note and credit note with an example?
How can you do credit control?
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
How P/E ratio usefull to the different people?
How many accounting standards are currently published?
What entry to be passed for Duty draw back as receivable
What is bad debt expense?
What is the abbreviation for the accounting terms debit and credit?
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
what is t code of journal voucher report with amount?
Can anybody tell me diference between provisions of Profit and Loss account prepared as per company act & Income Tax Act?
