s**b
发帖数: 25 | 1 I wonder why the employee advances was not concerned here. Any help? Thanks. |
m********y
发帖数: 1867 | 2 Because employee advances has nothing to do with salary expense or payment.
The journal entry of employee advances won't hit the account of salary
accrual or expense. |
s********h
发帖数: 168 | 3 But it hit salary paid for the year, and since there was an increase in
employee advances, the increase should increase the accrued salary payable.
So I think B is correct. But why the answer is c)?
.
【在 m********y 的大作中提到】
: Because employee advances has nothing to do with salary expense or payment.
: The journal entry of employee advances won't hit the account of salary
: accrual or expense.
|
s********h
发帖数: 168 | 4 But it hit salary paid for the year, and since there was an increase in
employee advances, the increase should increase the accrued salary payable.
So I think B is correct. But why the answer is c)?
.
【在 m********y 的大作中提到】
: Because employee advances has nothing to do with salary expense or payment.
: The journal entry of employee advances won't hit the account of salary
: accrual or expense.
|
x******g
发帖数: 31 | 5 Salary advance goes through A/P not Payroll. Salary advance is the employer
advances employee's unaccrued(or unearned) salary which like a free loan to
employee. Employee has to pay back the loan which will be deducted (usually
evenly) from the employee's future salary.
Thanks.
【在 s**b 的大作中提到】
: I wonder why the employee advances was not concerned here. Any help? Thanks.
|
s**b
发帖数: 25 | 6 Thank you guys. I got it.
Dr AR
Cr Cash
That's the journal entry for advance, right? |
x******g
发帖数: 31 | 7 Dr: Salary advance
Cr: Cash |
b******e
发帖数: 501 | 8 I got it too. Thank you for discussions. |
