Question : How much amount will be shown in the Income and Expenditure Account in the following case: Amount paid for stationary purchased during 2021-22 17000 Creditors for Stationary on 1-4-2021 1500 Creditors for Stationary on 31-3-2022 2100 ...

Question : How much amount will be shown in the Income and Expenditure Account in the following case:

Amount paid for stationary purchased during 2021-22 17000

Creditors for Stationary on 1-4-2021 1500

Creditors for Stationary on 31-3-2022 2100

Stock of Stationary on 1-4-2021 1250

Stock of Stationary on 31-3-2022 1400

Option 1: Rs. 17,450
Option 2: Rs. 17,600
Option 3: Rs. 17,000
Option 4: Rs. 18,000

Team Careers360 20th Jan, 2024

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Answer (1)

Team Careers360 23rd Jan, 2024

Correct Answer: Rs. 17,450

Solution :

Amount paid for stationary purchased during 2021-22	17000
Less: Creditors for Stationary on 1-4-2021	1500
Add: Creditors for Stationary on 31-3-2022	2100
Stationary purchased during the year	17600
Add: Stock of Stationary on 1-4-2021	1250
Less: Stock of Stationary on 31-3-2022	1400
Amount to be shown in Income and Expenditure Account	17450

Hence, the correct option is 1.

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