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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
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What is the journal entries for paying employee salary?
Salary expense
What is the journal entery for salary paid advance to mr A?
debit salary paid in advance creidit mr.a a/c
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
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 entries for paying employee salary?
Salary expense
What is journal entry of paid salary?
debit salary expensecredit cash
What is the journal entery for salary paid advance to mr A?
debit salary paid in advance creidit mr.a a/c
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
What are the journal entries if the source of paid up capital are loans?
debit bankcredit capital
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 entries for deposit paid on a asset?
deposit account (asset) = dr bank =cr
What are the accounting journal entries to record paid on account?
Debit accounts payableCredit cash / bank
What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
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
