Accountancy, asked by Hkk13, 8 months ago

New Delhi Sorts Club pays salary of ₹ 20,000 per month. How much amount will be recorded in Income and Expenditure account regarding salary, if salary outstanding at the end of the year is ₹ 5,000 and prepaid for next year is ₹ 7,000.

Answers

Answered by gudiyasck

Answer:

20,000

Explanation:

we follow accrual basis to record income and expenditures and not the cash basis...so the expense of the year ie rs 20,000 will be recorded in Income and Expenditure account.

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New Delhi Sorts Club pays salary of ₹ 20,000 per month. How much amount will be recorded in Income and Expenditure account regarding salary, if salary outstanding at the end of the year is ₹ 5,000 and prepaid for next year is ₹ 7,000.​

Answers

New Delhi Sorts Club pays salary of ₹ 20,000 per month. How much amount will be recorded in Income and Expenditure account regarding salary, if salary outstanding at the end of the year is ₹ 5,000 and prepaid for next year is ₹ 7,000.