Question : How much amount will be shown in the Income and Expenditure Account in the following case: Creditors for the stationary on 1-4-2021 8000 Amount paid for stationary purchased during the year 2021-22 90000 Creditors for the stationary on ...

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

Creditors for the stationary on 1-4-2021 8000

Amount paid for stationary purchased during the year 2021-22 90000

Creditors for the stationary on 31-3-2022 13000

Option 1: Rs. 1,03,000
Option 2: Rs. 95,000
Option 3: Rs. 98,000
Option 4: Rs. 85,000

Team Careers360 23rd Jan, 2024

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Answer (1)

Team Careers360 25th Jan, 2024

Correct Answer: Rs. 95,000

Solution :

Amount paid for stationary purchased during the year 2021-22	90000
Add: Creditors for the stationary on 31-3-2022	13000
Less: Creditors for the stationary on 1-4-2021	8000
Amount to be shown in Income and Expenditure Account	95000

Hence, the correct option is 2.

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