Bills
This query is : Resolved
pvsrikanth
(Querist)
01 October 2011
DEAR SIR,
I AM PASSING JOURNAL ENTRIES FOR SALARIES, ELECTRICITY CHARGES ...ETC. I AM PASSING ENTRY
SALARY A/C-----DR
TO SALARY PAYABLE.
WHEN PAYMENT MADE
SALARY PAYABLE A/C----DR
TO CASH/BANK.
SALARY A/C I GAVE UNDER INDIRECT EXP. SO IN P&L A/C IT IS APPEARING OR BOOKING AS J.V. SO IN P&L J.V'S COME OR NOT?. EXPENDITURE UNDER HEAD OF A/C SALARY PAYABLE.
I AM PASSING JOURNAL ENTRIES FOR SALARIES, ELECTRICITY CHARGES ...ETC. I AM PASSING ENTRY
SALARY A/C-----DR
TO SALARY PAYABLE.
WHEN PAYMENT MADE
SALARY PAYABLE A/C----DR
TO CASH/BANK.
SALARY A/C I GAVE UNDER INDIRECT EXP. SO IN P&L A/C IT IS APPEARING OR BOOKING AS J.V. SO IN P&L J.V'S COME OR NOT?. EXPENDITURE UNDER HEAD OF A/C SALARY PAYABLE.
01 October 2011
payable is a liability-not an expense until paid for, and liability does not form the part of P&L, corresponding expense already hit the P&L and as money (salary) is still to be paid, equally shown in liability in the BS
ACMA Obulirajan R
(Expert)
01 October 2011
Salary Expenses will come in P&L Debit side.
Salary payable will come in BS Liability side.
Salary payable will come in BS Liability side.
CA Pushpendra Gaur
(Expert)
01 October 2011
ALL THE ABOVE EXPERTS HAVE RIGHTLY GIVEN THE SOLUTION
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
