Multiple Choice Questions on Payment of salary is recorded by ........ for SEBI Grade A ( Officer) Exam Preparation

Back to Main Page

Multiple Choice Questions

Payment of salary is recorded by ........

Let's Discuss

maam kindly elaborate the answer.

0 0 reply

every business transaction affects two accounts as accounting is based on double entry system of accounting. For every debit there will be a credit and vice versa. Accounting entry for payment of salary will be: Salary A/c Dr. (debit all the expense) To Cash A/c (credit what goes out) Salary is an expense and will be charged to profit & loss account.

0 0 reply
What our students have to say
Download Abhipedia Android App

Access to prime resources

Downlod from playstore
download android app download android app for free