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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 3 Chapter No 16 – Class 11 Unimax
During the year ended 31st March, 2020. Salaries amounting to ₹ 24,000 for ten months has been paid, salaries for 2 months ₹ 4,800 has not been paid.
Pass Journal entry and show how this will appear in final accounts.
Journal
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 31.3.2020 | Salaries A/c | Dr. | 4,800 | ||
| To outstanding salaries A/c | 4,800 | ||||
| (Being salary for two months outstanding) | |||||
Profit & Loss A/c
| Particulars | Amount | Particulars | Amount | |||
|---|---|---|---|---|---|---|
| To salaries | 24,000 | |||||
| Add: Outstanding | 4,800 | 28,800 | ||||
Balance Sheet
| Liabilities | Amount | Assets | Amount | ||
|---|---|---|---|---|---|
| Outstanding salaries | 4,800 | ||||
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 3 Chapter No 16 – Class 11 Unimax", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 16 - Financial Statements (With Adjustments) - Unimax.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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