Question : Calculate the amount to be debited to the Income and Expenditure Account for the year ending 31st March 2021:
| Amount paid for the Stationary during the year | 5000 |
| Stock of Stationary at the beginning of the year | 600 |
| Stock of Stationary at the end of the year | 750 |
Option 1: Rs. 4,850
Option 2: Rs. 5,600
Option 3: Rs. 5,750
Option 4: Rs. 6,350
Correct Answer: Rs. 4,850
Solution :
| Amount paid for the Stationary during the year | 5000 |
| Add: Stock of Stationary at the beginning of the year | 600 |
| Less: Stock of Stationary at the end of the year | 750 |
| Amount recorded in Income and Expenditure A/c | 4850 |
Hence, the correct option is 1.
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