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What will be the treatment of Additional Information (1) and please prepare Income Expenditure Account.
Answers (11)
Sahibdeep Singh
These arethe assets that association holds. On G.P.notes, they should have received 1250 interest, so 250 is accrued
Sir where you get the amount of Rs.250 accrued
Thread Starter
Aditya BirlaSir where you get the amount of Rs.250 accrued
5% of 25,000 is 1,250. Receipts and Payments Account shows receipt of 1,000. So, difference is accrued
Sahibdeep Singh
5% of 25,000 is 1,250. Receipts and Payments Account shows receipt of 1,000. So, difference is accrued
But the answer is not matching
Thread Starter
Aditya BirlaThe answer is 34400(Surplus)
Complete your Income and Expenditure and then send
Sahibdeep Singh
Complete your Income and Expenditure and then send
Sir the answer of Surplus was wrong because the Balance Sheet is matching .
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