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GRATUITY PAID


Amit (Accounts )     15 April 2021

Amit
Accounts  
 15 likes  326 points

| My Other Post

We Have Paid gratuity of 50000 thousand to our employee in  FY 2020-21 but no provision of gratuity was made in last FY i.e 19-20.

What is journal entry of above mention transaction. 

 

Sourav

Sourav (Student)     15 April 2021

Sourav
Student 
 516 likes  8465 points

View Profile | My Other Post
While making the first provision:

Gratuity A/c Dr.
To Provision for Gratuity A/c

b. While making payment to the employee Provision for

Gratuity A/c Dr.
To Bank A/c

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