View Paid For Salaries Journal Entry Images. And finally, while posting a retained earnings journal entry. This entry usually includes debits for the direct labor expense, salaries, and the company's portion of payroll taxes.

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Two journal entries are necessary to record salaries payable. Has the policy to pay current month salaries to its employees on the 3rd day of the next month period. For example, the company abc ltd.

We will also be using this set of transactions and journal entries in later lessons when we discuss the other steps of the accounting process.

Rented land purchased on november 15 to local merchants association for use as a parking lot in december and january, during a street. This issue arises in a business as the salaries are often paid to a date which does not necessarily coincide with the accounting period end date. Rented land purchased on november 15 to local merchants association for use as a parking lot in december and january, during a street. When we pay expenses that means our expenses have increased.