Question 47 Chapter 1 VK Publications Class 12 Part 2

Question 47 Chapter 1 VK Publications Class 12 Part 2 – 2021

Table of Contents

The solution of Question 47 Chapter 1 VK Publications Class 12 Part 2: –

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

47. Z Ltd. made the following payments to its employees during the year ended 31st March2018:
(i) Wages Rs. 3,20,000;
(ii) Salaries Rs. 6,00,000;
(iii) Leave Encashment Rs. 35,000,
(iv) Bonus Rs. 85,000;
(v) Staff Welfare Scheme Expenses Rs. 90,000;
(vi) Gratuity paid Rs. 75,000: and
(vii) Medical Expenses Rs. 75,000.
Prepare Notes to Accounts on Employees Benefit Expenses.

The solution of Question 47 Chapter 1 VK Publications Class 12 Part 2: –

Particulars		31st March 2018Rs.

Employment Benefits Expenses
Wages		3,20,000
Salaries		6,00,000
Leave Encashment		35,000
Bonus		85,000
Staff Welfare Schemes		90,000
Gratuity Paids		75,000
Medical expenses		75,000
Amount to be shown in the Statement of profit and loss		12,80,000