can anyone tell me the the treatment and closing entry for leave salary
ashish gupta
( student)
(1922 Points)
Replied 16 November 2011
please be specific whether u are asking about the salary paid for the unavailed leaves at the end of the year or something else
deepa
(ipcc)
(71 Points)
Replied 16 November 2011
| Originally posted by : ashish gupta | ||
 |
please be specific whether u are asking about the salary paid for the unavailed leaves at the end of the year or something else |
 |
yes entry for salary paid for the unavailed leaves at the end of the year
also how to treat if there is a provision for the same
ashish gupta
( student)
(1922 Points)
Replied 17 November 2011
you just debit the same in the salary a/c or alternatively open a new account with name salary for unavailed leaves. in either case it is an expense.
If there is an existing provision for the same then adjust the amount with the provision.
Salary for unavailed leaves Dr.
To Cash A/c
If there is a provision then the entry will be
Provision for unavailed leave salary Dr.
To Cash A/c
deepa
(ipcc)
(71 Points)
Replied 17 November 2011
| Originally posted by : ashish gupta | ||
|
you just debit the same in the salary a/c or alternatively open a new account with name salary for unavailed leaves. in either case it is an expense. If there is an existing provision for the same then adjust the amount with the provision. Salary for unavailed leaves Dr. To Cash A/c If there is a provision then the entry will be Provision for unavailed leave salary Dr. To Cash A/c |
|
is it the closing entry , in closing entry temporary accounts transfereed to permanaent accounts like p/l isnt it
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