Employee Salary --- Indirect Expenses or Current Laibility
Rent Expenses - Indirect Expenses
Discount given -- plz tell me the entry
computer and furniture purchased --- entry plz?
Gayathri Santosh (M.Com) (29 Points)
17 March 2015Employee Salary --- Indirect Expenses or Current Laibility
Rent Expenses - Indirect Expenses
Discount given -- plz tell me the entry
computer and furniture purchased --- entry plz?
CA JK
(Student)
(187 Points)
Replied 17 March 2015
Hi
1. Employee Salary is an Indirect Expense (in Payment Voucher) :
Salary A/c Dr
To Cash or Bank
2. If you want to pass a due entry for salary then create Salary Payable account under Current Liabilities then pass the following entry if payment is not made but due (in Journal Voucher) :
Salary A/c Dr
To Salary Payable a/c
and when the salary is paid you can pass the following entry (in Payment Voucher) :
Salary Payable A/c Dr
To Cash / Bank a/c
3. Rent is an Indirect Expense only and entry for this is (in Payment Voucher) :
Rent a/c Dr
To Cash / Bank a/c
4. If any fixed asset purchased then following entry(in Payment Voucher) :
Computer / Furniture a/c Dr
To Cash / Bank
Regards,
JK
CA Raj Doshi
(Practising CA)
(8919 Points)
Replied 18 March 2015
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