Question 33 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.33 Chapter No.1 T.S. Grewal 2 Book Part A 2019 Solution min min 1024x576 - Question 33 Chapter 1 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1

Question 33 Chapter 1 of +2-A

Calculation of the Number of Expenses

33. In the year ended 31st March 2019 salaries paid amounted to Rs. 2,04,000. Ascertain the amount chargeable to the Income and Expenditure Account for the year ended 31st March 2019 from the following additional information:

Prepaid Salaries on 31st March 2018  24,000
Prepaid Salaries on 31st March 2019 12,000
Outstanding Salaries on 31st March 2018  18,000
Outstanding Salaries on 31st March 2019 15,000

The solution of Question 33 Chapter 1 of +2-A

: –

Income and Expenditure Account
Expenditure Amount Income Amount
To Salaries a/c
(check statement attached)
92,800    

 

BALANCE SHEET (AN EXTRACT) as on 31st March 2019
Particular Amount Particular Amount
Outstanding Salaries
on 31st March 2019
15,000 Prepaid Salaries on 31st March 2019 12,000
       

 

Statement Showing stationery used during the year
Particular Details Amount
Amount paid for Salaries during the year ended 31st March, 2019   2,04,000
Add: – Prepaid Salaries on 31st March 2018 24,000  
  Outstanding Salaries on 31st March 2019 15,000 39,000
    2,43,000
Less: – Prepaid Salaries on 31st March 2019 12,000  
   Outstanding Salaries on 31st March 2018 18,000  
    30,000
Salaries debited to the Income and Expenditure A/c   2,13,000

 

Not-for-Profit Organisations – Meaning and Overview

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Also, Check out the solved question of previous Chapters: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

  • Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
  • Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
  • Chapter No. 3 – Goodwill: Nature and Valuation
  • Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
  • Chapter No. 5 – Admission of a Partner
  • Chapter No. 6 – Retirement/Death of a Partner
  • Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

  • Chapter No. 1 – Financial Statements of a Company
  • Chapter No. 2 – Financial Statement Analysis 
  • Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
  • Chapter No. 4 – Accounting Ratios
  • Chapter No. 5 – Cash Flow Statement

 

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 33 Chapter 1 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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