Accounts ipcc-1
This query is : Resolved
25 August 2011
Please help,
Managerial Salary is Rs 3600/- in Trial Balance, but as per calculation (Adjustment) is Rs. 5723/-. Then what is the effect of Balance amount i.e. (5723-3600) 2123/-. As per ICAI Notes its shown in Sundry Creditors under Trade Payable. Please tell it is right ?
Managerial Salary is Rs 3600/- in Trial Balance, but as per calculation (Adjustment) is Rs. 5723/-. Then what is the effect of Balance amount i.e. (5723-3600) 2123/-. As per ICAI Notes its shown in Sundry Creditors under Trade Payable. Please tell it is right ?
27 September 2011
Yes it is be shown under Sundry Creditors, but to be under Other payable or employee payable, it is not a trade payable
27 September 2011
thanks.............
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