(2) Salaries paid ? 15,000. Outstanding salaries + 10,000 and salaries paid in advance * 5,000 Find out the amount of salaries to be debited to income and expenditure A/c.
Answers
Answer:
salaries paid = 15000 Add means (+) outstanding salaries = 1000
= 15000 salaries paid in advance. = 5000 salaries paid in advance then less( - )5000
debited to income and expenditure A/C =20000
Total amount = =20000
Answer:
To calculate the amount of salaries to be debited to income and expenditure A/c, we need to take into account the salaries paid, outstanding salaries, and salaries paid in advance.
Step-by-step explanation:
- Salaries paid are the salaries that have already been paid to the employees during the current accounting period. In this case, the salaries paid are Rs.15,000.
- Outstanding salaries are the salaries that have been earned by the employees but have not been paid yet. In this case, the outstanding salaries are Rs.10,000.
- Salaries paid in advance are the salaries that have been paid to the employees in advance for the next accounting period. In this case, the salaries paid in advance are Rs.5,000.
To calculate the amount of salaries to be debited to income and expenditure A/c, we need to subtract the salaries paid in advance from the salaries paid and add the outstanding salaries to the result.
So, the calculation would be as follows:
Amount of Salaries to be Debited = Salaries Paid - Salaries Paid in Advance + Outstanding Salaries
= Rs.15,000 - Rs.5,000 + Rs.10,000
= Rs.20,000
Therefore, the amount of salaries to be debited to income and expenditure A/c is Rs.20,000. This means that the total salary expense for the current accounting period is Rs.20,000, which includes the salaries paid, outstanding salaries, and salaries paid in advance.
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