Question

Salaries paid during the year ended 31st March, 2020 is Rs 35,000. Salaries paid (1) in advance of previous year were Rs 25,000. The amount of Salaries to be debited to Income and Expenditure account for the year ended 31st March 2020 will be

Answer 1

Explanation:

Income and Expenditure Account

Expenditure

To salaries

35,000

(+) 25,000

Amount debited for year end 31 March ,2020 is Rs 60,000