(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.