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we paid bonus how to treat entry and what is the debit and
credit
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Answer Posted / cn.selvam
PAY ROLL LIABILITY Dr XXX
TO BANK/CASH XXX
(BEING BONUS PAID TO MR.A)
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If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes
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