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From the Following Information Compute the Amount to Be Shown in Note to Accounts on Employees Benefit Expenses: - Accountancy

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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APPEARS IN

TS Grewal Class 12 Accountancy - Analysis of Financial Statements
Chapter 1 Financial Statements of a Company
Exercise | Q 42 | Page 71
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