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Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.
Salary outstanding as on 31-03-12 – Rs.25,000
Salary outstanding as on 31-03-13 – Rs.10,000
Prepaid Salary as on 31-03-12 – Rs.10,000
Salary paid in cash during the year – Rs.3,00,000
  • a)
    3,00,000
  • b)
    3,05,000
  • c)
    2,95,000
  • d)
    3,10,000
Correct answer is option 'C'. Can you explain this answer?
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Calculate the amount of salary debited to P & L A/c for the year e...
Calculation of Salary debited to P L A/c for the year ending 31-03-13:

Salary outstanding as on 31-03-12 = Rs.25,000
Prepaid Salary as on 31-03-12 = Rs.10,000

Therefore, the total salary for the year 2012-13 = Rs.25,000 + Rs.10,000 = Rs.35,000

Salary paid in cash during the year = Rs.3,00,000
Salary outstanding as on 31-03-13 = Rs.10,000

Therefore, the total salary for the year 2012-13 = Rs.35,000 + Rs.3,00,000 - Rs.10,000 = Rs.2,95,000

Hence, the amount of salary debited to P L A/c for the year ending 31-03-13 is Rs.2,95,000.
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Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.Salary outstanding as on 31-03-12 – Rs.25,000Salary outstanding as on 31-03-13 – Rs.10,000Prepaid Salary as on 31-03-12 – Rs.10,000Salary paid in cash during the year – Rs.3,00,000a)3,00,000b)3,05,000c)2,95,000d)3,10,000Correct answer is option 'C'. Can you explain this answer?
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Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.Salary outstanding as on 31-03-12 – Rs.25,000Salary outstanding as on 31-03-13 – Rs.10,000Prepaid Salary as on 31-03-12 – Rs.10,000Salary paid in cash during the year – Rs.3,00,000a)3,00,000b)3,05,000c)2,95,000d)3,10,000Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.Salary outstanding as on 31-03-12 – Rs.25,000Salary outstanding as on 31-03-13 – Rs.10,000Prepaid Salary as on 31-03-12 – Rs.10,000Salary paid in cash during the year – Rs.3,00,000a)3,00,000b)3,05,000c)2,95,000d)3,10,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate the amount of salary debited to P & L A/c for the year ending 31-03-13.Salary outstanding as on 31-03-12 – Rs.25,000Salary outstanding as on 31-03-13 – Rs.10,000Prepaid Salary as on 31-03-12 – Rs.10,000Salary paid in cash during the year – Rs.3,00,000a)3,00,000b)3,05,000c)2,95,000d)3,10,000Correct answer is option 'C'. Can you explain this answer?.
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