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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


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 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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