Q269
Salaries paid in advance should be shown on
A.
Asset side of the Balance sheet
AnswerB.
Liability side of the Balance sheet
C.
Credit side of the Trading account
D.
All of the above
Answer: Option A
Solution
Answer: Option A
Solution:
Salaries paid in advance should be shown on Asset side of the Balance sheet. An advance paid is recorded as a current asset in the company's balance sheet.