Question

if expenses paid during the year are Rs. 30,000 including Rs. 5,000 as prepaid expenses for the next year and Rs. 2,000 outstanding expenses of previous year. The amount to be recorded as current year expenses following cash basis of accounting will be__________




say the answer with clear steps
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Answer 1

Answer:

23000

Explanation:

30000 including prepaid so 30000-5000= 25000

25000- outstanding expense=23000

i hope it is correct