Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Pleas reply ...

Gopal G (CA Final ) (44 Points)

14 May 2010

Dear friends..

can you please any one suggest me a journal entry for salary.... for eg.

Basic 10000

HRA 5050

DA 2500

Bonus 1000

Employer -PF 750

Deductions:

PF 750

PT 200

IT 130

Please revert back its ugent

Reply
Follow
Share

1 Replies

gokul (Accountant) (126 Points)
Replied 14 May 2010

Salaries & Wages           Dr. 10000    P/L item
HRA                                     Dr. 5050    P/L item
Dearness Allowance        Dr. 2500    P/L item
Bonus           Dr. 1000    P/L item
Company cont. to PF      Dr. 750        P/L item

    To Employee Cont to PF Recoveries a/c    750    Liability item
    To Company cont to PF Payable a/c             750    Liability item
    To Professional tax recoveries a/c    200    Liability item
    To Income tax recoveries a/c                         130    Liability item
    To Salary payable a/c                                  17470    Liability item

Salary Payable a/c    Dr. 17470

    To Bank                17470