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 ...

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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

Team Careers360 11th Jan, 2024

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Answer (1)

Team Careers360 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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