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Though I honestly never heard of a company paying a Salary in advance, the journal entry would be:
Prepaid Salary (debit) $$$$
Cash (credit) $$$$
It would be like paying any other expense in advance, such as rent expense, insurance expense etc. You would debit a prepaid account for the amount while crediting your cash. Once the Salary is earned you would adjust the entry by Debiting Salary Expense and Crediting Prepaid Salary.
What else can I help you with?
What is the journal entry if i received 10000 as a interest income and 10 percent percent advance income tax paid?
debit cash 9000debit tax 1000credit interest income 10000
What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
What is the journal entry for Advance Salary paid to ram through Bank?
advance salary a/c dr to cash
What is the journal entry of rent paid in advance?
Debit prepaid rent and credit cash.
What is the journal entry for rent paid in advance?
prepaid rent a/c dr. to cash a/c
What is the journal entry if i received 10000 as a interest income and 10 percent percent advance income tax paid?
debit cash 9000debit tax 1000credit interest income 10000
What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
What is the journal entry for Advance Salary paid to ram through Bank?
advance salary a/c dr to cash
What is the journal entry of rent paid in advance?
Debit prepaid rent and credit cash.
What is the journal entry of insurance paid in advance?
debit prepaid insurancecredit cash / bank
What is the journal entry for postdated cheques paid as rent in advance?
Debit prepaid rentCredit bank
What is the journal entry for rent paid in advance?
prepaid rent a/c dr. to cash a/c
What is the journal entry of advance paid to supplier of goods?
debit advances to suppliercredit cash / bank
What is the journal entry for rent advance paid?
prepaid rent a/c....................Dr To cash A/c
What is the journal entry for prepaid expense when cash is not paid?
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
How do you make an journal entry for advance paid for a machineRs 25000?
Debit advances 25000Credit cash / bank 25000
What is the journal entry for paid in advance of the expenses for others company?
Expenses of other company is not recorded and it may be shown as loan to that company.
