Question : Delhi sports club for the year ending 31st march 2022 amounted to Rs. 4,00,000. How much amount to be recorded in Income and Expenditure Account after considering the following information:
| Particulars | 31-3-2021 | 31-3-2022 |
| Outstanding Salary | Rs. 14000 | Rs. 20000 |
| Advance Salary | Rs. 10000 | Rs. 8000 |
Option 1: Rs. 4,16,000
Option 2: Rs. 4,08,000
Option 3: Rs. 4,10,000
Option 4: Rs. 3,84,000
Answer (1)
6th Jan, 2024
Correct Answer: Rs. 4,08,000
Solution :
| Particulars | Amount |
| Salary paid in 2021-22 | 400000 |
| Add: Unpaid salary on 31-3-2022 | 20000 |
| Add: Advance salary on 31-3-2021 | 10000 |
| Less: Unpaid Salary on 31-3-2021 | 14000 |
| Less: Advance Salary on 31-3-2022 | 8000 |
| Amount recorded in Income and Expenditure A/c | 408000 |
Hence, the correct option is 2.
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