Question : Calculate the amount to be shown in the Income and Expenditure Account in the following case:
| Stock of sports Materials on 1-4-2021 | 6000 |
| Amount paid for sports materials during the year | 40000 |
| Stock of sports Materials on 31-3-2022 | 9600 |
Option 1: Rs. 37,000
Option 2: Rs. 46,000
Option 3: Rs. 36,400
Option 4: Rs. 49,600
Answer (1)
25th Jan, 2024
Correct Answer: Rs. 36,400
Solution :
| Amount paid for sports materials during the year | 40000 |
| Add: Stock of sports Materials on 1-4-2021 | 6000 |
| Less: Stock of sports Materials on 31-3-2022 | 9600 |
| Amount recorded in Income and Expenditure A/c | 36400 |
Hence, the correct option is 3.
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