(Adjustment Entries). From the following information available on 31st March , 2019, pass the
Channel: Doubtnut
Date: 2020-03-29

(Adjustment Entries). From the following information available on 31st March , 2019, pass the necessary Adjustment Entries in the Journal for the year ending on that date: (i) Interest accrued Rs. 2,500. (ii) Wages for March , 2019 outstanding Rs. 10,000. (iii) Insurance prepaid Rs. 1,500. (iv) Commission due to manager 6% on net profit after charging such commission . The profit before charging such commission was Rs. 1,06,000. (v) Interest due on loan but not paid. Loan of Rs. 1,50,000 was taken at 9% p.a. 9 months before end of the year.