Question : Given salary expenses Rs. 40,000, Outstanding in the beginning of the year: Rs. 5,000 and outstanding at the end of the year Rs. 10,000. Cash outflow on salary will be -
Option 1: Rs. 45,000
Option 2: Rs. 35000
Option 3: Rs. 55,000
Option 4: Rs. 15,000
Correct Answer: Rs. 35000
Solution : Cash outflow on salary will be -
Opening balance + Salary exp. during the year - Closing balance
5000 + 40000 - 10000 = Rs.35000
Hence the Correct answer is option 2.
Question : From the following information, find out the actual amount of expenditure to be shown in Income and Expenditure A/c:
Expenses paid during the year 140,000
Expenses outstanding at the end of the year 30,000
Expenses prepaid at the beginning of the year
Question : From the following information find out the actual amount of expenditure to be shown in the Assets side of the closing Balance Sheet:
Expenses paid during the year 1,40,000
Expenses prepaid at the
Question : Sale of fixed assets (Book value Rs. 50,000 ) at a loss of Rs. 5,000, would result in inflow/outflow/no flow of Cash and Cash Equivalents:
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