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 80000 Creditors for Stationary on 1-4-2021 8000 Creditors for Stationary on 31-3-2022 12400 ...

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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 80000

Creditors for Stationary on 1-4-2021 8000

Creditors for Stationary on 31-3-2022 12400

Stock of Stationary on 1-4-2021 10800

Stock of Stationary on 31-3-2022 10000

Option 1: Rs. 84,400
Option 2: Rs. 84,000
Option 3: Rs. 86,000
Option 4: Rs. 85,200

Team Careers360 19th Jan, 2024

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Answer (1)

Team Careers360 20th Jan, 2024

Correct Answer: Rs. 85,200

Solution :

Amount paid for stationary purchased during 2021-22	80000
Less: Creditors for Stationary on 1-4-2021	8000
Add: Creditors for Stationary on 31-3-2022	12400
Stationary purchased during the year	84400
Add: Stock of Stationary on 1-4-2021	10800
Less: Stock of Stationary on 31-3-2022	10000
Amount to be shown in Income and Expenditure Account	85200

Hence, the correct option is 4.

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