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

Question 33 Chapter 1 of +2-A

Table of Contents

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

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

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

Advertisement-X

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