Question

vi) Salaries amounting to Rs. 10,000 for the month of March 2008 wa
not paid. The owner did not want to account in the books of
accounts for the year ended 31* maren 2020 on the ground that the
amount was not paid
DEL​

Answer 1

Answer:

Owner need to account for the amount for the year ended 31* March 2020 if he is maintaining books on accrual basis. The entry would be-

Salary a/c Dr

To Salary Outstanding a/c