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Provision for 13th salary

what is the journal entry at the end of the year for the 13th salary provision
Asked by: Pantelitsa Vulovic | Member Since May-2011 | Asked on: May 23rd, 2011

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Showing Answers 1 - 2 of 2 Answers
koshipthomas

Answered On : Jul 12th, 2011

cr.provision for bonus
dr.bonus
(one month salary pd as bonus)
*pls comment is it correct

  
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Puran

Answered On : Aug 23rd, 2011

Hi it is right
Bonus Dr.
Bonus Payable Cr

or some companies don't pay bonus they pay it as incentive/Performance Bonus
Incentive/Performance Bonus Dr.
Incentive Payable/ Performance Bonus Payable Cr.

Regards
Puran Dangwal

  
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