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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


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 6th Jan, 2024

Correct Answer: Rs. 4,08,000


Solution :

Particulars Amount
Salary paid in 2021-22 400000
Add: Unpaid salary on 31-3-2022 20000
Add: Advance salary on 31-3-2021 10000
Less: Unpaid Salary on 31-3-2021 14000
Less: Advance Salary on 31-3-2022 8000
Amount recorded in Income and Expenditure A/c 408000

Hence, the correct option is 2.

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