What is the journal entry of paid to Ravi on account?

Answer: Ravi’s A/c Dr. To Bank A/c Cr.

How do I record payment received on account?

Once the invoice is received, the amount owed is recorded, which consequently raises the credit balance. When the invoice is paid, the amount is recorded as debit to the accounts payable account; thus, lowering the credit balance.

What is the journal entry of paid salary to Arun?

salary is expenses and cash outflows. amount is debited to salaries account.

What account is debited when salary is paid to Raja?

Salary paid to Ram will be debited to Ram’s Personal account.

What account is debited when payment is made to landlord?

Payment of rent to landlord is an expense which need to be debited to rent account by crediting cash account.

What is the journal entry for pre-paid expenses?

Prepaid expenses are those expenses which are paid in advance for a benefit yet to be received. The perks of such expenses are yet to be utilised in a future period. Below is the journal entry for prepaid expenses; According to the three types of accounts in accounting “prepaid expense” is a personal account.

What is the journal entry for rent paid to a ram?

Here rent paid to ram…while passing journal entry ram is to be ignored. rent is paid which is an expense. It is paid in form of cash. Cash is going out from the organization. As per the rules of passing journal entry. Rent is an expense. So as per the rule of nominal account. Debit all the expenses and losses. Credit all the income and profit.

What is the journal entry for Provident Fund contribution?

For example the journal entry for the provident contribution shall be recorded as under; The provident fund contribution is normally deducted from the salary. Thus the following entry is recorded in the book to create a liability of provident fund.