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Question : Mahadev's club paid a salary for the year ended 31st March 2020 amounted to Rs. 1,00,000. How much amount will be recorded in the 'Income and Expenditure Account' if the unpaid salary was Rs. 5,000 and the salary paid in advance was Rs. 2000 on 31st March 2020.

Option 1: Rs. 1,07,000

Option 2: Rs. 1,03,000

Option 3: Rs. 93,000

Option 4: 95,000


Team Careers360 5th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs. 1,03,000


Solution :

Particulars Amount
Salary paid in 2019-20 100000
Add: Unpaid salary at 31st March 2020 5000
Less: Advance salary at 31st March 2020 2000
Amount recorded in Income and Expenditure A/c 103000

Hence, the correct option is 2.

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