Outstanding Expenses Prepaid Expenses Accrued Income Income Received In Advance

Outstanding Expense Expenses a/c To Outstanding Expenses a/c Prepaid Expenses Prepaid Expenses a/c To Expense a/c Accrued Incomes Accrued Income a/c To Income A/c Income Received In Advance Income a/c Dr To Income Received In Advance a/c Dr Dr Dr

Following balances were extracted from the trial balance of Mr Big on 31st December,1997:Dr. Cr. Rent 5000 Salary 4000 Commission received 1500 Interest 2000 Following were some of the adjustments to be made:Outstanding Salary 1200 Prepaid Rent 1500 Accrued Interest 500 Commission Received For 1998 400

Dr
DATE

Profit & Loss a/c for the period ending

PARTICULARS DETAILS AMOUNT DATE PARTICULARS

Cr

DETAILS AMOUNT

To Salary Add:Outstanding Salary To Rent Less:Prepaid Rent

4000 1200 5000 1500 3500 5200

By Interest Add:Accrued Interest By Commission Less:Commission Received In Advance

2000 500 1500 2500

400

1900

Liabilities
Outstanding Salary

Amount Assets
Prepaid Rent

Amount
1500

1200

Commission Received In Advance

Accrued Interest
400

500