Question

Adjustment
1. Interest
recuired in advanced 700
2. unexpired commission 900
3. outstanding wages
3provide discount on credi6 at 2%
4goods lost by fire Rs. 30000. insurance company admitted a claim of 2500.
Particulars debit credit
wages 3000
commission 2500
interest 2500
creditors 10000

need a balance sheet for this..​

Answer 1

Explanation:

DateParticularsAmount (Dr.)Amount (Cr.)1.Interest on Loan A/cDr.50000To Outstanding Interest on Loan A/c50000(Being recording the interest on a loan for the current year outstanding)2.Prepaid Wages A/cDr.12000To Wages A/c12000(Being prepaid wages recorded)3.Accrued Commission A/cDr.5000To Commission A/c5000(Being recording of accrued commission)4.Rent A/cDr.10000To Rent Received in Advance A/c10000(Being rent received in advance recorded)