Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
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.
Some the other concepts, as for example: the Matching concept, the Dual Aspect concept and the Realization concept are discussed in further sections, and as they have not been take
nWhat is the implication of applying accounting concepts wrongly.imum 100 words accepted#
John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,
Liquidity Ratios (Short Term Solvency Ratios): These Ratios calculate the capability of the firm to meet its current obligations. They point out whether the firm has enough li
GENERAL
What is the end-of-period worksheet Show Trial Balance-debits MUST EQUAL credits Show Adjustments-debits MUST EQUAL credits Carry adjustments forward to Adjusted Trial Ba
Recording Private Company Credit Card Sales Goes to the individual company-not a bank. Treated as a sale on account. Credit card Company is responsible for collection of
how its help
identify the income statement account
Why it is important for independent auditor to be a member of a professional body?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd