Question

ABC & Co. employs a team of ten workers, who were paid Rs. 25,000 per month for the year ending 31st December, 2018. At the start of 2019, the company raised salaries by 10% to Rs.27,500 per month each. On July 1, 2019 the company hired four trainees at salary of Rs. 23,000 per month each. The work force is paid salary on the first working day of every month, one month in arrears, so that the employees receive their salary for January on the first working day of February etc.
You are required to calculate: (i) Amount of salaries which would be charged to the profit and loss for the year ended 31st December, 2019.
(ii) Amount actually paid as salaries during 2019. (iii) Outstanding Salaries as on 31st December, 2019. ​

Answer 1

Answer:

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Explanation:

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