Income and Expenditure Account nbsp; for the year ending December 31,2006 Dr. nbsp; Cr. Expenditure Amount (Rs) I ...

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Standard XI

Accountancy

Adjustment for Accrued Income

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Solution

Income and Expenditure Account
for the year ending December 31,2006

Dr. Cr.

Expenditure Amount (Rs) Income Amount (Rs)

Salaries 1,60,000

Less: Outstanding in the beginning

(2005)
15,000

Add: Outstanding at the end

(2006)
25,000

Add: Advance in the beginning

(2005)
12,000

Less: Advance at the end (2006)
10,000 1,72,000

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Income and Expenditure Account for the year ending December 31,2006
Dr.				Cr.
Expenditure		Amount (Rs)	Income	Amount (Rs)
Salaries	1,60,000
Less: Outstanding in the beginning (2005)	15,000
Add: Outstanding at the end (2006)	25,000
Add: Advance in the beginning (2005)	12,000
Less: Advance at the end (2006)	10,000	1,72,000