Question : Amount debited to Income and Expenditure Account in respect of stationery was Rs 30,000. Following information is provided to you. 1st April 2018, opening stock of stationery Rs 7,000 and closing stock of stationery Rs 6,000. Opening balance of creditors of stationery Rs 10,000 and closing balance of creditors of stationery Rs 8,200. What was the amount paid for stationery during the year.
Option 1: Rs 29,000
Option 2: Rs 30,800
Option 3: Rs 27,200
Option 4: Rs 40,800
Correct Answer: Rs 30,800
Solution : Amount debited to Income and Expenditure Account for stationery = Rs 30,000 (-) Opening stock = (Rs.7,000) (+) Closing stock = Rs.6,000 (+) Opening balance of creditors = Rs.10,000 (-) Closing balance of creditors = ( Rs.8,200) Amount paid paid for stationery = Rs.30,800 Hence, the correct option is 2.
Question : Calculate the amount of medicines consumed during the year ended 31st March, 2019: Opening Stock of Medicines Rs. 50,000 Closing Stock of Medicines Rs. 45,000 more than Opening Stock Amount paid for medicines during the year Rs. 2,00,000 Opening
Question : Opening stock of medicines = Rs.50,000.
Closing stock of medicines Rs.45,000 more than opening.
Amount paid for medicines during the year = Rs 2,00,000.
Opening creditor = Rs.20,000.
Closing creditor 50% of opening
Question : Interest on investment received @8%pa for full year Rs 40,000.
Calculate the amount of Investment at the beginning of the year and also calculate of value of Investment at the end of the year.
Question :
Stock is undervalued by 10% (Book Value of Stock Rs.54,000), Revaluation account will be
Question : Change in stock= ?
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