Partner Salary
This query is : Resolved
21 December 2019
In our co. when co's current a/c not open that time all partner put money in one partner SB A/c and form this a/c they make payment regarding the same, I have some below query?
1) Partner Y, Partner Z transfer money to Partner X Saving bank a/c ....... what will be the entry?
2) Partner X paid expenses from their Saving Bank a/c for business ... what will be the entry?
3) All remaining 5 partners transfer 10,000/- each to Partner X (Active Partner) Saving Bank a/c towards Salary ..... what will be the entry?
1) Partner Y, Partner Z transfer money to Partner X Saving bank a/c ....... what will be the entry?
2) Partner X paid expenses from their Saving Bank a/c for business ... what will be the entry?
3) All remaining 5 partners transfer 10,000/- each to Partner X (Active Partner) Saving Bank a/c towards Salary ..... what will be the entry?
23 May 2020
1.
Bank A/c - Dr.
Partner A/c - Cr.
2.
Expenses - Dr.
Partner A/c - Cr.
3.
Salary A/c - Dr.
Partner A/c - Dr.
Bank A/c - Dr.
Partner A/c - Cr.
2.
Expenses - Dr.
Partner A/c - Cr.
3.
Salary A/c - Dr.
Partner A/c - Dr.
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