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Explain the term- Salaries Expense and payment
The Accounting Entry for Employee Earnings and Deductions
Employer is the "agent" who is responsible for withholding the amounts of deductions and then passing them on to the proper agency. Employer is liable for every amount withheld until it is passed on to the appropriate agency. Every deduction is recorded in a liability account.
Salaries Expense-debit (This can be Office Salaries Expense and Sales Salaries Expense if more than one account is required to keep track of the salary expense.) This is an account used to record gross amount of payroll.
PAYMENT. One check for net amount of the payroll is written on company's regular checking account. Then this check is deposited in this separate payroll account. Individual checks for employees are then written on special account. When all checks have been cashed by employees, payroll account must have a zero balance.
A time of 12 consecutive months used by an organization to account for and report the results of its operations.
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?
Q. What is Posting reference column? This column demonstrates the account number of the debited or credited account. For example in Exhibit 8 the number 100 in the first entry
Assignment Comments – Debt-to-assets ratio: 50% Current Ratio: 1.8x Total assets turnover: 1.5x Days sales outstanding: 36.5 days* Gross profit margin
Treatment of Provision for Taxation and Proposed Dividend: As preparing the Funds Flow Analysis, the treatment of condition for Taxation and planned Dividend is very significa
Q. Explain about income statement? The income statement, sometimes called as an earnings statement that reports the profitability of a business organization for a stated period
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what is accrued revenue
State unemployment tax This is referred to as SUTA (State Unemployment Tax Act). The taxes are paid to the state in which employer conducts business. This rate varies from stat
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