Question : The salary paid during the year was Rs 1,60,000. The salary outstanding at the end of the year was 14,000, and the salary outstanding at the beginning of the year was Rs 180,00. Salary to be transferred to the debit side of the Income and expenditure account will be
Option 1: Rs 1,28,000
Option 2: Rs 1,92,000
Option 3: Rs 1,64,000
Option 4: Rs 1,56,000
Correct Answer: Rs 1,56,000
Solution :
Salary Paid during the year = 1,69000
Add outstanding Salary at the end of the year = 14000
______
1,74000
less out standing Salary = (1800)
at the seq. of the year
Income and Expenditure A/C = 1,56,000
The answer is
Rs 1,56,000
Hence, the correct option is 4.
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