Question : Rent paid during the year Rs 13,000 compute rent for the year ended 31st March 2021 from the following
March 2020 | March 2021 | |
Outstanding Rent | Rs 1600 | Rs 1400 |
Prepaid- rent | Rs 800 | Rs 1000 |
Option 1: Rs 13,000
Option 2: Rs 12,800
Option 3: Rs 12,600
Option 4: Rs 12,400
Correct Answer: Rs 12,600
Solution :
Calculation of the amount credited to the Income and Expenditure account.
Rent Paid = 13000
(+) o/s (2021) = 1400
_____
14400
(-) o/s (2020) 1600
_______
12800
(-) Advance (2021) (1000)
_____
11800
(+) Advance (2020) 800
______
Income and 12600
Exp.A/C
Answer =
Rs 12,600
.
Hence, the correct option is 3.
Related Questions
Question : Rent paid during the year Rs 13,000 compute rent for the year ended 31st March 2021 from the following
March 2020 | March 2021 | |
Outstanding Rent | Rs 1600 | Rs 1400 |
Prepaid- rent | Rs 800 | Rs 1000 |
Option 1: Rs 13,000
Option 2: Rs 12,800
Option 3: Rs 12,600
Option 4: Rs 12,400
Question : In the year 2020-21, salaries paid amounted to Rs.1,20,000. Find the amount to be debited to Income and Expenditure Account for the year ending 31st march 2021 after considering the following information:
Particulars | Amount |
Outstanding Salaries on 31-3-2020 | 9000 |
Outstanding Salaries on 31-3-2021 | 13500 |
Prepaid salaries on 31-3-2020 | 5400 |
Prepaid salaries on 31-3-2021 | 4200 |
Option 1: Rs. 1,29,000
Option 2: Rs. 1,14,300
Option 3: Rs. 1,25,700
Option 4: Rs. 1,38,900
Question : What amount will be credited to the Income and Expenditure Account for the year ending 31st March 2022 on the basis of the following information:
Particulars | 1-4-2021 | 31-3-2022 |
Outstanding Subscription | Rs. 7500 | Rs. 9000 |
Subscriptions received during the year 2021-22 were Rs. 90,000.
Option 1: Rs. 73,500
Option 2: Rs. 91,500
Option 3: Rs. 88,500
Option 4: 1,06,500
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
Question : What amount will be credited to the income and expenditure account for the year ending 31st march 2022 on the basis of the following information:
Particulars | 1-4-2021 | 31-3-2022 |
Outstanding Subscriptions | Rs. 40000 | Rs. 30000 |
Advance Subscription | Rs. 8000 | Rs. 12000 |
Subscriptions received during the year 2021-22 were Rs. 10,00,000.
Option 1: Rs. 9,86,000
Option 2: Rs. 10,12,000
Option 3: Rs. 9,68,000
Option 4: Rs. 10,00,000