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From the Following Information, Prepare Note to Accounts on Employees Benefit Expenses: - Accountancy

Ledger

From the following information, prepare Note to Accounts on Employees Benefit Expenses:
Wages ₹ 2,70,000; Salaries ₹ 3,60,000; Staff Welfare Expenses 60,000; Printing and Stationery Expenses ₹ 20,000 and Business Promotion Expenses ₹ 50,000.

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Solution

NOTES TO ACCOUNTS

Note No.

Particulars

Amount

(Rs)

  Employees Benefit Expenses  
 

Wages

2,70,000

6,90,000
  Salaries 3,60,000
 

Staff Welfare Expenses 

60,000

  Amount to be shown in the Statement of Profit and Loss 6,90,000

*Amount spent on promotion of business and printing & Stationary expenses are not included in Employees Benefit Expenses.

Concept: Limitations of Financial Statements
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APPEARS IN

TS Grewal Class 12 Accountancy - Analysis of Financial Statements
Chapter 1 Financial Statements of a Company
Exercise | Q 43 | Page 71
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