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

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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, 201824,000
Prepaid Salaries on 31st March, 201912,000
Outstanding Salaries on 31st March, 201818,000
Outstanding Salaries on 31st March, 201915,000





Statement of Salaries
for the year ended March 31, 2019

Particulars Amount (Rs.)
Amount paid for Salaries2,04,000
Add: Prepaid Salaries as on March 31, 201824,000
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, 201915,000
Salaries chargeable to Income and Expenditure Account2,13,000

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



Location: India

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