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Question
Salary ₹ 10,000, outstanding salary ₹ 5,000. Calculate the salary to be debited to Income and Expenditure Account.
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Solution
| Dr. | Income and Expenditure Account | Cr. | |||||
| Particulars | Amt ₹ | Amt ₹ | Particulars | Amt ₹ | Amt ₹ | ||
| To Salary |
10,000 |
|
|||||
| Add: Outstanding Salary |
5,000 |
15,000 |
|||||
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Chapter 2: Accounts of ‘Not for Profit’ Concerns - Exercise 2.1 (Objective Type Questions) [Page 114]
