Amity Business School

Amity Business School

MBA Class of 2012, Semester I ACCOUNTING FOR MANAGEMENT
Course Code: MBAFN10101

Amity Business School

Amity Business School

1 (a). Closing Stock

Particulars
Opening Stock Purchase Sales

(Closing stock is outside the Trial Balance)

Debit
20,000 50,000

credit

90,000

Stock at the end of the year is Rs 20,000

1(b). Closing Stock inside the trial Balance Particulars

Opening Stock Purchase Sales Closing Stock 20,000

Debit
20,000 50,000

Credit

90,000

Amity Business School

2. Outstanding Expenses ( expenses due but not paid or Expense accrued)

Trial Balance For the year ending 31st March 2010 Particulars Salaries Rent Debit 5,500 3000 Credit

Additional Information; 1. Salary for the month of March Rs 500 has not yet been paid 2. Rent Rs 1000 is still outstanding 2(b). If these items appears only in the Trial Balance Particulars Salaries Rent Outstanding salaries Outstanding Rent Dr 5,500 3000 500 1000 Cr

Amity Business School

3(a) Prepaid Expenses

Trial Balance For the year ending 31st December 2009 Particulars Salaries Rent Debit 26000 13000 Credit

Additional information: 1. Salary has been paid in advance amounting to Rs 2000 for the next year 2. Rent Rs 1000 has been paid in advance for the month of January

3(b). If these items appears inside the trial Balance Particulars Salaries Rent Prepaid Salary Prepaid Rent Debit 26000 13000 2000 1000 Credit