Read the following data of a company and answer the question.
Public deposits- ₹4,00,000
O/S Expenses- ₹10,000
Calls in advance- ₹25,000
Provision for employee benefits- ₹20,000 (maturing within operating cycle of the company)
Provision for taxation- ₹1,50,000
What is the total amount of other current liabilities?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- ₹35,000.
Other current Liabilities = O/S expense + Calls in advance
= 10,000 + 25,000
= ₹35000