Additionally, the company has a monthly salary expense of its 25 lacs. For the accounting year ended
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Additionally, the company has a monthly salary expense of its 25 lacs. For the accounting year ended on March 31, 2019, the company paid 275 lacs on account of the salary. The salary for the month-end is paid in the first week of April 2019. Discuss the treatment of both of these payments in the books and disclosures in the financial statements, as on 31st March 2020.
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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