Ram has been working as a cashier in Reliance industry for the financial year 2019-20 and amount of 10 months - Accountancy - Theory Base of Accounting

Question

Ram has been working as a cashier in Reliance industry for the
financial year 2019-20 and amount of 10 months’ salary Rs
2,00,000 credited in his account then 2 months’ salary of Rs
40,000 is shown in Reliance Industry by the name of ------

Mohit · Accepted Answer

Dear Student,
Here is your answer,

The amount of 40000 will be shown as Salary
Outstanding in the liability side of the balance sheet of
Reliance Ltd
And also, amount of 240000 ( 200000 + 40000) will be debited to P
& L Account

Regards

Ram has been working as a cashier in Reliance industry for the financial year 2019-20 and amount of 10 months’ salary Rs 2,00,000 credited in his account then 2 months’ salary of Rs 40,000 is shown in Reliance Industry by the name of. ------