Question : From the following information, calculate the amount of stationary consumed by the Rotary Club for the year ended 31st March 2022:
| Particulars | 31-3-21 | 31-3-22 |
| Balance of Stationary | 48000 | 59000 |
| Creditors for stationary | 418000 |
390000 |
During the year creditors were paid Rs. 6,00,000.
Option 1: Rs. 5,61,000
Option 2: Rs. 5,72,000
Option 3: Rs. 5,50,000
Option 4: Rs. 5,30,000
Answer (1)
20th Jan, 2024
Correct Answer: Rs. 5,61,000
Solution :
| Amount paid for Sports material purchased during 2021-22 | 600000 |
| Less: Creditors for Sports material on 1-4-2021 | 418000 |
| Add: Creditors for Sports material on 31-3-2022 | 390000 |
| Sports material purchased during the year | 572000 |
| Add: Stock of Sports material on 1-4-2021 | 48000 |
| Less: Stock of Sports material on 31-3-2022 | 59000 |
| Amount to be shown in Income and Expenditure Account | 561000 |
Hence, the correct option is 1.
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