Director Salary Journal Entry
Directors are active and they are top level management of the company who works and acts on the behalf of Owners of the business. The remuneration paid to directors i nclude salary, fees or a ny compe nsatio n give n to t hem duri ng t heir jo b time or works or employme nt suc h as use of cars or a ny property of t he compa ny. T he Remu neratio n of D irectors is high as their responsibilities are huge. When the company paid salary, fees or remuneration to a Director, then following Journal Entry is recorded in the book of company’s business as shown below: Director Salary a/c / Director's Remuneration a/c / Director Fees a/c XXX Cash a/c / B ank a/c...