Financial accounting-1
This query is : Resolved
05 May 2012
Topic: Profit Prior to Incorporation
Dt. Of Purchase :1.4.2005
Dt. Of Incorporation::1.10.2005
Dt. Of Year End:31.03.2006
Adjustment regarding salary Item
-salary amt. For whole year is Rs.240000/-
Adj.-
salaries include Rs.40000/- paid to the director. There werw 3 employees upto 30.09.05 after which the number was increased by 6 employees. The rate of salary was the same in all cases.
So, please help me how to allocate salary in pre and post period.
Dt. Of Purchase :1.4.2005
Dt. Of Incorporation::1.10.2005
Dt. Of Year End:31.03.2006
Adjustment regarding salary Item
-salary amt. For whole year is Rs.240000/-
Adj.-
salaries include Rs.40000/- paid to the director. There werw 3 employees upto 30.09.05 after which the number was increased by 6 employees. The rate of salary was the same in all cases.
So, please help me how to allocate salary in pre and post period.
05 May 2012
Please help me to solve this adjustment
05 May 2012
Salary to the director = 40000(post incorporation)
Remaining salary of Rs.200000(240000-4000) is
to be allocated on the following ratio.
From April to September and Oct to March
3:3:3:3:3:3:6:6:6:6:6:6=54
So salary for April to September=18=200000*18/54=66667/-
Oct to March=36=200000*36/54=1,33,333/-
Remaining salary of Rs.200000(240000-4000) is
to be allocated on the following ratio.
From April to September and Oct to March
3:3:3:3:3:3:6:6:6:6:6:6=54
So salary for April to September=18=200000*18/54=66667/-
Oct to March=36=200000*36/54=1,33,333/-
05 May 2012
Thank u so much sir for helping me...
07 May 2012
Ur answer was wrong the no. Of employees r increased 'BY' 6 and not from 3 'TO' 6
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