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Hello Tutor,
In paid holidays case , should this be the journal entry when current period’s entitlement has not been availed and carry forwarded to the next year?
Since they worked for the whole year, there paid holidays are c/f to next year.
DEBIT PNL (salary expense) 12 Months
CREDIT Cash 12 Months
CREDIT Accruals 1 Month paid leave
Thanks.
PLEASE USE THREAD HEADER SUCH AS HOLIDAY PAY
I think
Dr P&L 13 months
Cr Cash 12 months
Cr Accrual 1 monthNext year
Dr Accrual 1 month
Dr P&;L 11 months
Cr Cash 12 monthsIn the exam you will just be asked for the accrual
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