Journal entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2012
journal entry from company point of view
an employee draws salary of 10000 per month (incl. employee's contribution to PF 700) prof. tax 150. & employer's contribution to PF 700.
an employee draws salary of 10000 per month (incl. employee's contribution to PF 700) prof. tax 150. & employer's contribution to PF 700.
30 May 2012
Salary A/c Dr 10,000
To Employees' Contribution to PF 700
To Professional Tax Payable 150
To Salary Payable 9,150
Employees' Contribution to PF 700
Employer's Contribution to PF 700
To PF Payable A/c 1,400
PF Payable A/c Dr 1,400
To Bank A/c 1,400
Professional Tax Payable A/c Dr 150
To Bank 150
To Employees' Contribution to PF 700
To Professional Tax Payable 150
To Salary Payable 9,150
Employees' Contribution to PF 700
Employer's Contribution to PF 700
To PF Payable A/c 1,400
PF Payable A/c Dr 1,400
To Bank A/c 1,400
Professional Tax Payable A/c Dr 150
To Bank 150
Message likes :
2 times
30 May 2012
Agreed with the expert, Simple way...
Journal Entry:
Salary A/c Dr 10,000/-
Employers Contribution to PF A/c Dr 700/-
To PF Payable 1400/-
To Proffesional Tax Payable 150/-
To Salary Payable 9,150/-
(Being Salary for the month of .......accounted for)
While Paying:
Salary Payable a/c Dr 9,150/-
To Cash / Bank 9150/-
PF Payable a/c Dr 1400/-
To Bank 1400/-
Proffesional Tax Payable A/c Dr 150/-
To Bank a/c 150/-
Journal Entry:
Salary A/c Dr 10,000/-
Employers Contribution to PF A/c Dr 700/-
To PF Payable 1400/-
To Proffesional Tax Payable 150/-
To Salary Payable 9,150/-
(Being Salary for the month of .......accounted for)
While Paying:
Salary Payable a/c Dr 9,150/-
To Cash / Bank 9150/-
PF Payable a/c Dr 1400/-
To Bank 1400/-
Proffesional Tax Payable A/c Dr 150/-
To Bank a/c 150/-
Message likes :
1 times
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
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
