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debit salary paid in advance
creidit mr.a a/c
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∙ 11y ago
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What is the journal entry for Advance Salary paid to ram through Bank?
advance salary a/c dr to cash
Journal entry for salary advance paid?
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
Journal entry for income paid in advance?
Though I honestly never heard of a company paying a Salary in advance, the journal entry would be:Prepaid Salary (debit) $$$$Cash (credit) $$$$It would be like paying any other expense in advance, such as rent expense, insurance expense etc. You would debit a prepaid account for the amount while crediting your cash. Once the Salary is earned you would adjust the entry by Debiting Salary Expense and Crediting Prepaid Salary.
What is the journal entry of salary paid?
debit salary expensecredit cash
What is the journal entry for the outstanding salary paid?
debit salary payableCredit cash / bank
What is the journal entry for Advance Salary paid to ram through Bank?
advance salary a/c dr to cash
Journal entry for salary advance paid?
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
What is journal entry of paid salary?
debit salary expensecredit cash
Journal entry for income paid in advance?
Though I honestly never heard of a company paying a Salary in advance, the journal entry would be:Prepaid Salary (debit) $$$$Cash (credit) $$$$It would be like paying any other expense in advance, such as rent expense, insurance expense etc. You would debit a prepaid account for the amount while crediting your cash. Once the Salary is earned you would adjust the entry by Debiting Salary Expense and Crediting Prepaid Salary.
What is the journal entry for salary not paid?
[Debit] Salary Expense xxxx [Credit] Salary payable xxxx
What is the journal entry of salary paid?
debit salary expensecredit cash
What is the journal entry for the outstanding salary paid?
debit salary payableCredit cash / bank
What is the journal entry salary paid?
debit salary expensecredit cash
What is the journal entry for salary payable and what when salary is paid to him?
Salary payable A/c Dr 5000 To Cash Cr 5000
What is the journal entry of salary paid to ram?
debit salary expensecredit cash
Salary paid in advance double entry in accounts?
Advance Salary A/C 1000.00 Dr. Cash A/C 1000.00 Cr. next entry is Salary A/C 1000.00 Dr. Advance Salary 1000.00 Cr.
What is journal entry for wages paid to raj?
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of...Though I honestly never heard of a company paying a Salary in advance, the journal entry would be: Prepaid Salary (debit) $$$$ Cash (credit) $$$$ It would be like paying any other expense in advance,...
