Kalp Accounting Learning Articles

Wages are the expenses of a Business organization which is paid to person/persons against their work done for that Business organization.  Generally wages are not fixed in nature, it varies from time to time and it is paid within a short period of time. Wages are paid hourly/daily/weekly basis. Now let's discuss about the Journal Entry and Ledger posting procedure when Wages are paid through Bank Account. When Wage Expenses are paid through Bank Account Wages Account shows Debit effect and, Bank Account shows Credit effect. Journal Entry Ledger Posting In Wages Ledger Account In Bank Account Example : In the Books of M/s.Jagannath Industries amount paid towards wages through HDFC Bank CA No-7020(IMPS Ref No-10250123) for ₹1750/- on dt.24/11/2022 Pass necessary Journal Entry and Post them into their respective Ledger Accounts for Wages paid. In the above example  Debit Ledger is : Wages Account Credit Ledger is : HDFC Bank CA No.7020 Journal Entry Ledger Posting In Wages Account I

Wages are the expenses of a Business organization which is paid to person/persons against their work done for that Business organization.  Generally wages are not fixed in nature, it varies from time to time and it is paid within a short period of time. Wages are paid hourly/daily/weekly basis. Now let's discuss about the Journal Entry and Ledger posting procedure when Wages are paid through Cash. On Cash Payment for Wages, Wages Account shows Debit effect and, Cash Account shows Credit effect. Journal Entry Ledger Posting In Wages Ledger Account In Cash Account Example : In the Books of M/s.Jagannath Industries amount paid towards wages by Cash for ₹1230/- on dt.20/11/2022 Pass necessary Journal Entry and Post them into their respective Ledger Accounts for Wages paid. In the above example  Debit Ledger is : Wages Account Credit Ledger is : Cash Account Journal Entry Ledger Posting Posting in Wages Ledger Account. Posting in Cash Account.   << Previous | Next >> Tabl

Loading and Unloading Expenses are those expenses on purchase of goods, which is paid for loading the goods carrier at Seller's delivery point and unloading the goods at Purchaser's storage place/godown. Loading and Unloading Expenses related to purchase of Goods are considered as Direct Expenses. Loading and Unloading Expenses related to sale of Goods are considered as Indirect Expenses. Let's discuss about Journal Entry and Ledger posting on Loading and Unloading Expenses on Purchase of Goods which are incurred but not yet paid. When Loading and Unloading Expenses incurred but not yet paid. The Ledger Accounts affected are : Debit Account : Loading & Unloading Expenses Account Credit Account : Loading & Unloading Payable Account Journal Entry Ledger Posting In Loading & Unloading Expenses Ledger Account In Loading & Unloading Payable Account. Example :  In the Books of M/s.Jagannath Industries goods purchased for ₹2,18,000/- on dt.17/12/2022 and Loading

Loading and Unloading Expenses are those expenses on purchase of goods, which is paid for loading the goods carrier at Seller's delivery point and unloading the goods at Purchaser's storage place/godown. Loading and Unloading Expenses related to purchase of Goods are considered as Direct Expenses. Loading and Unloading Expenses related to sale of Goods are considered as Indirect Expenses. Let's discuss about Journal Entry and Ledger posting on Loading and Unloading Expenses on Purchase of Goods. When Loading and Unloading Expenses are paid through Bank Account. The Ledger Accounts affected are : Debit Account : Loading & Unloading Expenses Account Credit Account : Bank Account Journal Entry Ledger Posting In Loading & Unloading Expenses Ledger Account In Bank Account Example :   In the Books of M/s.Jagannath Industries goods purchased for ₹4,70,000/- and paid Loading and Unloading Expenses through HDFC Bank Current Account No.7020 for ₹1290/- on dt.25/11/2022 to b