What would be the entry for 'Loan to employee rupee xyz adjusted with Salary" ?
Nimit kumar (Student) (24 Points)
03 December 2015What would be the entry for 'Loan to employee rupee xyz adjusted with Salary" ?
Sourav Yadav
(Article Assistant)
(789 Points)
Replied 03 December 2015
Sourav Yadav
(Article Assistant)
(789 Points)
Replied 03 December 2015
CA Prateek Garg
(CA in Practice)
(1444 Points)
Replied 07 December 2015
Salary Advance............. Dr.
To Bank/Cash
(Being Advance against salary paid to Employee)
Salary A/c ....................Dr.
To Salary Payable A/c
(Being Salary Due For the Month)
[Pass the Entry with full ammount of salary due for the month before adjustment of Advance]
Salary Payable A/c...........Dr.
To Salary Advance
To Bank/Cash
(Being Salary Paid after adjustment of Advance)
[Credit Actual paid in Bank/Cash A/c... and amount deducted for advance should be credited to Advance A/c
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
