Answer Posted / guest

WHEN, SALARY PAID WITHIN THE PARTICULAR PERIOD
LIKE THAT SALARY OF APRIL MONTH, PAID ON 30 APRIL

AS PER THE IIIrd ACCOUNTING GOLDEN RULES :-

ALL EXPENSES & LOSSES ARE DEBIT
ALL INCOMES & GAINS ARE CREDIT

SALARY TO EMPLOYEE IS EXPENSES, SO

SALARY A/C DR RS.........
TO CASH / BANK A/C RS........

WHEN, SALARY PAID AFTER THE PARTICULAR PERIOD LIKE THAT
SALARY OF APRIL MONTH PAID ON 1 MAY , THAN ENTRY

ON 30 APRIL

SALARY A/C DR. RS..........
TO SALARY PAYABLE A/C RS..........(CURRENT LIABILITY)

ON 1 MAY

SALARY PAYABLE A/C DR. RS.............
TO CASH / BANK A/C RS........

NOTE : - IN THIS ENTRY , NOT INCLUDE , PF , ESI , P TAX , TDS , ADVANCE , ETC.


THANKS & REGARDS

PRAVEEN SHARMA

8130113611

praveenexport2@gmail.com

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