Ledger
From the following information compute the amount to be shown in Note to Accounts on Employees Benefit Expenses: Wages ₹ 5,40,000; Salaries ₹ 7,20,000; bonus ₹ 1,05,000; Staff Welfare Expenses ₹ 60,000 and Business Promotion Expenses ₹ 50,000.
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Solution
NOTES TO ACCOUNTS
|
Note No. |
Particulars |
Amount (₹) |
|
| Employees Benefit Expenses | |||
|
Wages |
5,40,000 |
14,25,000 | |
| Salaries | 7,20,000 | ||
| Bonus | 1,05,000 | ||
|
Staff Welfare Expenses |
60,000 |
||
| Amount to be shown in the Statement of Profit and Loss | 14,25,000 | ||
*Amount spent on promotion of business is not included in Employees Benefit Expenses.
Concept: Role and Objectives of Financial Management
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