Salary payable A/c Dr 5000 To Cash Cr 5000
An entry level 2d animator will make about 30,000 dollars per year. Once they gain experience they can double that yearly salary.
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.
5000 Rubel
In 2010, Alex Rodriguez was the highest paid baseball player. His salary was $33,000,000.
The Spanish formula 1 driver for the Renault team is paid a very high salary , as you must remember that he has been the world champion on two years running. So the salary will be high.
[Debit] Salary Expense xxxx [Credit] Salary payable xxxx
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
End of March: DR Salary Expense CR Salary Payable Paid day on April DR Salary payable CR Cash
debit salary expensecredit cash
[Debit] Accrued salary payable [Credit] Cash / bank
Debit notes payableCredit cash / bank
debit interest expensecredit interest payable
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
income tax payable Dr ,Bank Cr.
debit accrued expensescredit expense payable
debit telephone expensescredit expenses payable
debit salary payableCredit cash / bank