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What is the journal entries for salary is paid to him?
The journal entries for salary payments are (Dr = debit, Cr = credit): Dr Salary Expense (P&L) - Gross Salary Cr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Net Salary paid to employee Then when the salary deductions are paid over, usually the following month the entries are: Dr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Salary Deductions
How do you pass the journal entries for salary deductions?
[Debit] Salaries Expense [Credit] Salaries payable (balancing amount) [Credit] Deductions
What journal entry for provident fund?
Salary Account - Debit To PF Account - Credit To Employee Account - Credit
How is salary paid?
That depends on the company. Three methods common used are (a) in cash, (b) with a check, (c) paying the salary to an employee's account.
What will be the journal entry if employee take stock in the place of his salary in tally?
Dr. Salary Expense/Payable Cr. Common Stock Cr. APIC - CS
What is the journal entry for Provident fund in accounts?
Salary a/c Dr. To employee a/c To ppf a/c ppf a/c (employer)Dr ppf a/c (employee)Dr To bank a/c
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
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 salary journal entry?
debit salary expensecredit cash
What is a journal entry of salary?
debit salary expensecredit cash
How do you fetch second highest salary from table?
select top 1 * from EMPLOYEE where SALARY < (select MAX SALARY FROM EMPLOYEE) ORDER BY SALARY DESC
How do you edit entries in tally?
salary slip or payroll
