Accountancy, asked by villiamviky, 1 month ago

The following information is available from the record of Shams and Co. on December 31, 2005.
1. Salaries payable amounted to Rs 80,000
2. Outstanding insurance expense amounted to Rs 5,000
3. Unpaid wages Rs 2,000
4. Salaries earned by the employees but not yet paid Rs10,000
5. Commission receivable Rs 5,000
6. Rent income not yet received Rs12,000
7. Rent earned but not yet received Rs 10,000
8. Accrued interest income Rs 5,000
9. Insurance prepaid to the extent Rs 2,000 (Prepaid Insurance Rs 5,000)
10. Rent Expired Rs 4,000 (Prepaid rent Rs 10,000)
11. Insurance premium paid in advance for 1 year on 1’st Oct 2005(Prepaid insurance Rs 120,000)
12. Insurance premium paid in advance for 2 years on 1’st Nov 2005(Prepaid insurance Rs72,000)
13. Rent prepaid RS 5,000(Rent expense Rs8,000)
14. Advertising expense paid for 3 years on 1’st Sep 2005(Advertising expense Rs108,000)
15. Rent income Rs2,000(Unearned rent Rs6,000)
16. Rent received in advance for 8 years on 1’st Mar 2005(Unearned rent Rs96000)
17. Commission earned but not yet received Rs6,000(Commission income Rs10,000)
18. Unearned rent Rs3,000(Rent income Rs7,000)
19. Rent received in advance for 5 years on June 1’st, 2005(Rent income Rs60,000)

just simple entries

Answers

Answered by sableharsh3
0

Explanation:

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