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What is the closing entry in the declaration of dividends?
The closing entry in the declaration of dividends involves transferring the total amount of declared dividends from the Retained Earnings account to the Dividends Payable account. This entry reflects the company's obligation to pay the declared dividends to shareholders. Once the dividends are paid, the Dividends Payable account is then closed by debiting it and crediting the Cash or Bank account. This process ensures that the financial records accurately reflect the company's distribution of earnings to its shareholders.
How much does a 2d animator get paid?
An entry level 2d animator will make about 30,000 dollars per year. Once they gain experience they can double that yearly salary.
What is the entry for when vat is paid to the government?
VAT stands for value added tax. it is simply a form of compensation tax. Let suppose a firm paid $ 30,000.00 to the government under the head of value added tax on 30th June 2010. The journal entry will be as follow: DR: Value Added Tax (VAT) Account $ 30,000.00 CR: Cash / Bank Account* $ 30,000.00 * If payment is made by cash, then Cash Account will be written on the credit side. And if bank draft or cheque is paid, then Bank Account will be written on the credit side.
What Salary was Joseph Stalin paid as Soviet Leader?
5000 Rubel
Who was the highest paid baseball player in 2010?
In 2010, Alex Rodriguez was the highest paid baseball player. His salary was $33,000,000.
What is the journal entry for salary not paid?
[Debit] Salary Expense xxxx [Credit] Salary payable xxxx
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 if cash is owing to staff in wages for work in march and paid on April?
End of March: DR Salary Expense CR Salary Payable Paid day on April DR Salary payable CR Cash
What is journal entry of paid salary?
debit salary expensecredit cash
What entry of outstanding salary paid?
[Debit] Accrued salary payable [Credit] Cash / bank
What is the journal entry of interest due not paid?
debit interest expensecredit interest payable
What is the journal entry for paid notes payable?
Debit notes payableCredit cash / bank
Journal entry for salary paid to Anil and tds deducted?
1) a) Salary Payable A/C Dr. TDS on Salary A/c Dr. To Salary A/c To TDS on Salary A/c b) Salary A/c Dr. TDS on Salary A/c Dr. To Bank
What is the journal entry for paid back a portion of the accounts payable?
To record the payment of a portion of accounts payable, the journal entry would debit the Accounts Payable account to decrease the liability and credit the Cash account to reflect the cash outflow. For example, if $1,000 of accounts payable is paid, the entry would be: Debit: Accounts Payable $1,000 Credit: Cash $1,000 This entry reduces both the outstanding liability and the cash balance.
What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
What is the journal entry of telephone bill is due to be paid?
debit telephone expensescredit expenses payable
What should be the journal entry for cash due but not paid?
debit accrued expensescredit expense payable
