Hello Good Morning Everyone
What is the journal entry for recieved salary according to golden rules of accounting?
Thank you in advance Everyone
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Accounting Journal Entries.
Replies (5)
Quick Summary
1. When due:
ABC A/c Dr. xxx
To Salary Income. xxx
2. When received:
Bank/Cash A/c. Dr. xxx
To ABC A/c xxx
ABC A/c Dr. xxx
To Salary Income. xxx
2. When received:
Bank/Cash A/c. Dr. xxx
To ABC A/c xxx
Radhey shyam jha sir ji mein ek employee hu mein aapne books of accounts mein entry kaise Karu aise case mein bata dijiye please.
Dear Gagan, ye rule sabhi ke liye application hai, doesn't matter ki aap khud ke books me kar rahe ho company ke books me... If aap salaried person ho or apko khud ke liye account maintained karna hai then you can simply replace the ABC by your employer name
Salaries R nominal accounts and so debit all expenses and credit incomes
Your Bank A/c is personal account - Debit the receiver
Salary received is Nominal account - Credit gains and income.
personal account rule is - Debit the receiver and credit the giver.
Nominal account rule - Debit the expenses and loss and credit gains and income.
Salary received is Nominal account - Credit gains and income.
personal account rule is - Debit the receiver and credit the giver.
Nominal account rule - Debit the expenses and loss and credit gains and income.
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