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When to pass journal entry for salary?
debit salary expensecredit cash
How do you pass journal entry for returning purchased goods?
debit accounts payable/ cashcredit purchase returns
How do you pass the journal entries for salary deductions?
[Debit] Salaries Expense [Credit] Salaries payable (balancing amount) [Credit] Deductions
How do you pass journal entry for epf?
Salary a/c Dr.12,000 Salary Payable 9,600.00 PF Employee Contbn. 2,400.00 (being Salary Payable for the month of May 2012). Salary Payable A/c Dr. 9,600.00 to Bank 9,600.00 (being Salary Paid for the month of May 2012) PF Employee Cotbn. 2,400.00 PF Employer Contbn 2,600.00 To Bank 5,000.00 (Being the PF Amount Paid for the month of May 2012) Contact SGC Management Services - ESI PF Consultant For Best Consult
Why do you pass an journal entry?
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
Pass the journal entry for loss by theft?
loss by theft A/c to purchases
How do you pass journal entry for cash in hand?
Debit cash in handCredit bank
How do you pass journal entry for cash sales?
Cash a/c Dr. To Sales a/c
How will you pass journal entry for unexpired interest?
debit unexpired interestcredit interest paid
How do you pass journal entry for discount allowed?
Debit cash / bankCredit discount allowed
How do you rent payment pass the journal entry?
debit rent expensecredit cash / bank
How do you pass journal entry for loan received to introduce capital?
Debit cash / bankCredit share capital
