Question : Calculate the amount of stationery to be debited to the Income and Expenditure Account of Good Health Sports Club for the year ended 31st March, 2020:
|
Particulars |
1st April, 2019 (Rs.) |
31st March, 2020 (Rs.) |
|
Stock of Stationery |
40,000 |
30,000 |
|
Creditors for Stationery |
45,000 |
55,000 |
Stationery purchased during the year ended 31st March, 2020 was Rs. 4,70,000.
Option 1: Rs 4,80,000
Option 2: Rs 4,90,000
Option 3: Rs 4,70,000
Option 4: None of the above
Correct Answer: Rs 4,80,000
Solution :
Calculation of stationery Consumed
Opening stock of stationery = 40000
(+) stationery Purchased = 4,70,000
--------------
5,10,000
(-) Closing stock of stationery = (30,000)
Stationery Consumed = 4,80,000
Answer =
Rs 4,80,000
Hence, the correct option is 1.
