suppose total salaries paid is 10000, 1000 is outstanding. how
& which amount will shown in receipts & payment, income &
expenditure and balance sheet accounts
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Answer / giri
Debit Rs.10000 and credit Rs.1000 to P&L a/c and in balance
sheet laibilities side Rs.1000 to be shown as unpaid
salaries.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / karthik
receipts and payments = 10000
income and expenditure = 11000
balance sheet = o/s salaries 1000(liability)
| Is This Answer Correct ? | 2 Yes | 0 No |
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