Question
Sengupta & Co. employs a team of eight workers who were paid Rs.30,000 per month each in the year ending 31st December, 2015. At the
Sengupta & Co. employs a team of eight workers who were paid Rs.30,000 per month each in the year
ending 31st December, 2015. At the start of 2016, the company raised salaries by 10% to Rs.33,000 per
month each.
On July 1, 2016 the company hired two trainees at salary of Rs.21,000 per month each. The work force
are paid salary on the rst working day of every month, one month in arrears, so that the employees
receive their salary for January on the rst working day of February etc.
You are required to calculate:
(i) Amount of salaries which would be charged to the profit and loss for the year ended 31st December,
2016.
(ii) Amount actually paid as salaries during 2016 Outstanding Salaries as on 31st December, 2016
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