Show how the following adjustments are to be shown in the final accounts. Adjustments (i) Wages due
Question:
Show how the following adjustments are to be shown in the final accounts.
Adjustments
(i) Wages due but not paid so far 11,000
(ii) Insurance premium paid on January 1, 2010 is for twelve months period
(iii) Commission earned but not received so far 3,000
(iv) Interest received includes 5,000 relevant for next financial year.
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Explanation 1 Salary has been paid for only eleven month Therefore sa...View the full answer
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