Question

Calculate expenses incurred for the year 2009 from the following particulars.

	Rs.
Expenses paid during 2009	950
Expenses outstanding 1.1.2009	300
Expenses outstanding on 31.12.2009	450
Expenses paid in advance on 1.1.2009	200
Expenses paid in advance on 31.12.2009	300

Answer 1

	Amount	Amount
Expenses paid during the year		950
Add Expenses outstanding on 31.12.2009	450
Expenses paid in advance on 1.1.20009	200	650
		1600
Less Expenses outstanding on 1.1.2009	300
Expenses paid in 31.12.2009	300	600
Expenses incurred for the year 2009.		1000