Question 23 Chapter 1 of Class 12 Part – 1
23. Salaries actually paid during the year, ending 31st March, 2018 amounted to Rs. 12,650
Calculate the amount of Salaries to be debited to Income and Expenditure Account with the
Help of following information about prepaid and outstanding salaries:
| Particulars | Rs. |
| Prepaid Salaries on 31st March, 2017 | 1,500 |
| Salaries Outstanding on 31st March, 2017 | 2,300 |
| Salaries Outstanding on 31st March, 2018 | 2,500 |
| Prepaid Salaries on 31st March, 2018 | 1,400 |
The solution of Question 23 Chapter 1 of Class 12 Part – 1: –
Statement Showing Calculation of Subscriptions
| Particulars | Rs. |
| Salaries paid in Cash during the year | 12,650 |
| Add: Prepaid on 31st March, 2017 (in the beginning of the year) | 1,500 |
| Add: Outstanding salaries on 31s! March, 2018 (at the end of the year) | 2,500 |
| Less: Prepaid on 31st March, 2018 (at the end of the year) | (1,400) |
| Less: Outstanding salaries on 31st March, 2017 (in the beginning of the year) | (2,300) |
| Salaries debited to Income and Expenditure Account | 12,950 |
Thanks, Please Like and share with your friends
Comment if you have any questions.
Also, Check out the solved question of all Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Introduction)
Advertisement-X
Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
Chapter No. 1 – Financial Statements of a Company
Chapter No. 2 – Financial Statement Analysis
Advertisement-X
Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 4 – Ratio Analysis
Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
