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
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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