Sweetee is a regular employee of a Delhi-based private organisatión where she was appointea on 1.1.2018 in the scale of 90,000 p.m as basic. Under the terms of employment, she is paid 10% of basic as DA and alsơ bonus equivalent to one month's pay (including DA) as on the last month of the financial. She is provided with free housing facility which has been taken on rent by the employer on rent for 12,000 p.m. Besides, she is provided with the following facilities: (a) Transport allowance @ 3,500 p.m. is paid to her and Conveyance allowance of 1,000 per month is given by the company. Children and hostel allowance of Rs. 700pm and 1200 p.m respectively. She is having 3 children. (b) She is getting telephone allowance @ 3500 p.m. (c) Company paid the medical allowance 25,000. (d) HRA paid Z8000 p.m

Sweetee is a regular employee of a Delhi-based private organisatión where she was appointea on 1.1.2018 in the scale of 90,000 p.m as basic. Under the terms of employment, she is paid 10% of basic as DA and alsơ bonus equivalent to one month's pay (including DA) as on the last month of the financial. She is provided with free housing facility which has been taken on rent by the employer on rent for 12,000 p.m. Besides, she is provided with the following facilities: (a) Transport allowance @ 3,500 p.m. is paid to her and Conveyance allowance of 1,000 per month is given by the company. Children and hostel allowance of Rs. 700pm and 1200 p.m respectively. She is having 3 children. (b) She is getting telephone allowance @ 3500 p.m. (c) Company paid the medical allowance 25,000. (d) HRA paid Z8000 p.m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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