WebPrepare Trading and Profit & Loss Account for the year ended 31st March 2024 and Balance Sheet as at that date after taking into account the following adjustments : (i) Closing Stock was valued at ₹ 19,000. (ii) Depreciation to be provided on Land and Building @ 5% p.a. and on Plant & Machinery @ 10% p.a. (iii) Write off ₹ 2,000 as Bad debt. WebSep 13, 2024 · The correct answer is Salaries paid are shown on the debit side of the Profit and Loss Account but outstanding salaries (when given in additional information) is …
C and D Are the Partner in a Firm Sharing Profits in the Ratio of 4:1 ...
WebHIMANSHU SHARMA OBJECTIVE To serve the company with the best of my ability and efforts trying to gain and disperse as much as I can with the experience that I have acquired with time. WORKING EXPERIENCE Working with Welco infoteach Pvt. Ltd. In New Delhi, one of the leading Telecom company, as an accounts Executive from 01April2015 to … WebJul 5, 2007 · Jul 12th, 2007. Salary outstanding is an administrative expense or rather an Indirect expense. If the salary outstanding is related to previous year then it shall be debited to profit and loss account as an expense and the amount related to current year shall be shown as current liabilities under the liabilities side of the balance sheet. chrysler ypsilon obd port location
Salary Payable: Definition, Example, Journal Entry, and More
WebJul 28, 2024 · Profit & Loss Statement/Account is prepared for two main reasons. To know the profits/losses earned/incurred by a business, Statutory requirements (Companies Act, Partnership Act or any other law) Traditionally, there were two steps to know the profit/loss. It meant, the preparation of : Trading Account. Profit & Loss Account. WebSuppose salary to be paid Rs 10000 but not paid the salary. here our due date of payment of salary has arrived but the salary is not paid therefore we have shown our liability which is … WebPrepare Trading and Profit and Loss Account for the year ending on 31 st March, 2024 and Balance Sheet as on that date from the following balances of Trail Balance: Adjustments: 1.) ... Wages outstanding were Rs. 6,000 and salaries outstanding were Rs.5,000 on 31st March, 2024. (iii) Depreciate Land and Building @ 2 %, ... chrysler z20 recall