In the Year Ended 31st March, 2019, Salaries Paid Amounted to ₹ 2,04,000. Ascertain the Amount Chargeable to the Income and Expenditure Account

In the year ended 31st March, 2019, salaries paid amounted to ₹ 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

Statement of Salaries

for the year ended March 31, 2019

Particulars	Amount (Rs.)
Amount paid for Salaries	2,04,000
Add: Prepaid Salaries as on March 31, 2018	24,000
Less: Prepaid Salaries as on March 31, 2019	(12,000)
Less: Outstanding Salaries as on March 31, 2018	(18,000)
Add: Outstanding Salaries as on March 31, 2019	15,000
Salaries chargeable to Income and Expenditure Account	2,13,000

Chapter-1 Financial Statements of Not for Profit Organisations-TS Grewal

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