Accounting standrads 5
This query is : Resolved
06 January 2012
i would like ot know what is fair treatment of Salary payable to an employee in the books of accounts
as we are provided in accounting standard 5
Salary A.c Dr
To salary payable
then
Salary payable a/c Dr.
To cash/ Bank
or 2nd is
Salary A/c Dr.
To XYZ
Then
XYZ A/c Dr.
To cash
please provide me the fair treatment @ my emmail.id
hgandhi9@gmail.com
as we are provided in accounting standard 5
Salary A.c Dr
To salary payable
then
Salary payable a/c Dr.
To cash/ Bank
or 2nd is
Salary A/c Dr.
To XYZ
Then
XYZ A/c Dr.
To cash
please provide me the fair treatment @ my emmail.id
hgandhi9@gmail.com
07 January 2012
Both have same effect. The generally followed practice is to pass the first set of entries.
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