Salary paid to ram journal entry
WebCorrect option is B) Salary paid to Ram will be debited to salary A/c instead of Ram's Personal A/c. The correct Journal Entry is. Salary A/C Dr. To Cash A/c. (Being salary paid … Websalary payment kaise kare salary paid in cash salary paid journal entry salary paid entry
Salary paid to ram journal entry
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WebMay 25, 2012 · What is the journal entry for Advance Salary paid to ram through Bank? Wiki User. ∙ 2012-05-25 11:28:40. Study now. See answer (1) Best Answer. Copy. advance … WebMar 31, 2024 · 1 answers. -On 1 April, 2012 Gupta Bros purchased two machines for 1,50,000 each. Depreciation at the rate of 10% on original cost of machine was to be …
WebJournal Entry for Outstanding Interest. It is also known as accrued interest. An outstanding interest journal entry is required to record the amount of interest owed by the business on a loan obligation. It refers only to the portion of the interest that is currently due but not paid by the borrower. It is a “receivable” for the lender. WebOct 22, 2024 · Nonetheless, the second journal entry for salary payable will be as follows. Dr Salary Payable. Dr Cash/Bank. Example. A company, Kite Co., has over 100 employees. The total salaries expense at the end of each month for these employees is $100,000.
WebMay 18, 2024 · Enter the date in the date column. Enter "Salaries Payable" as the description. Enter the salaries payable amount (net pay) in the debit column. On the next line, enter "Cash" in the description column. Enter the amount you paid to your employees in the credit column. The debit and credit columns are always equal in this payroll entry. WebJul 16, 2024 · The journal entries are- Particulars Debit (in rupees) Credit(in rupees)1. Cash account debit 10,00… angelmaryphilip123 ... Paid salary to Ram ₹3000 Paid interest on loan from Bank on repayment ₹250 See answers Advertisement Advertisement
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WebOct 14, 2024 · Cash paid to ram on account - 25749102. raoarjun2009 ... A journal entry is a detailed information about all the ... Sales Closing Stock Salaries and wages Outstanding expenses Investment Machinery Adjusted Purchases Discount Received Carriage Inwards Interest on Investments Capital Cash and Bank Balance 3,00,000 ... sick leave incentive programWebSuppose salary to be paid Rs 10000 but not paid the salary. here our due date of payment of salary has arrived but the salary is not paid therefore we have shown our liability which is the outstanding salary in the books of Accounts. Journal entry will be . Salary A/c. 10,000. To Outstanding Salary A/c. 10,000. Being salary not paid on due date. sick leave in ghanaWeb#1 – Initial Recordation. The main salary journal entry will be recorded for the initial payroll. This entry shall record or recognize the gross salary or gross wages Gross Wages Gross … sick leave in california 2022Salary is an indirect expense incurred by every organization with employees. It is paid as a consideration for the efforts undertaken by the employees for the business. Salary expense is recorded in the books of accounts with a journal entry for salary paid. Salary is among the most recurring transactions and paid on … See more The life cycle to account for payment of salary expense (in cash/cheque) goes through a couple of steps as shown below; Step 1 – Journal entry for salary paid (in cash/cheque) Step 2 … See more Salary paid in advance is also known as prepaid salary (it is a prepaid expense). It is the amount of salary paid by an entity in advance but the corresponding work-effort equivalent to the advance salary paid is yet to be receivedfrom … See more On the last day of every month, Unreal Corporation pays salaries to its employees amounting to 250,000. The payment relates to the salary due for the same month. Show related journal entries for salary paid in the … See more Salary is paid to the partners of the partnership firm only if it is specified in the partnership deed. Journal Entry The following are the steps to record the journal entry for salary to partners. Step 1 – Journal entry for … See more the phoenix w1WebOn 31 January, they pay a salary expense of $ 11,000. It increases from prior month due to new staffs. Please prepare the journal entry for the January salary expense. As the … the phoenix warner robins gaWebApr 8, 2024 · The amount of Prepaid salary is deducted from salary and shown on the debit side of the profit and loss account. It is further shown under the head current asset in the … sick leave in fers retirementWebClick A : Payroll Auto Fill. 4. Select the Salary in Process for field. 5. Enter the From and To dates. 6. Enter the required Voucher Date . Note: The Voucher Date can be different or outside the period specified in ( From and To fields). For example, the voucher date for salary payment for April can be 2.05.2009. the phoenix washington dc