1 View

Question : On the basis of the information given below, calculate the amount of stationery to be debited to Income and Expenditure Account of Good Health Sports Club for the year ended 31st March, 2020:                   
                                                                         1-04-2019                    31/03/2020

 Stock of stationery                                              80,000                           60,000

Creditors for stationery                                         90,000                        1,10,000

Stationery purchased during the year ended 31st March 2020 was Rs. 4,70,000.

Option 1: Rs.5,00,000

Option 2: Rs.5,10,000

Option 3: Rs.4,20,000

Option 4: Rs.5,70,000


Team Careers360 14th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs.5,10,000


Solution : Amount paid for medicines during the year    =    Rs. 4,70,000
(+) Opening Stock of Stationery                      =    Rs. 80,000
(-) Closing Stock of Stationary                        =    (Rs. 60,000)
(-) Opening Creditors                                      =    (Rs. 90,000)
(+) Closing Creditors                                      = Rs. 1,10,000
Amount consumed                                          = Rs. 5,10,000


Hence, the correct option is 2.

Related Questions

Question : Delhi sports club for the year ending 31st march 2022 amounted to Rs. 4,00,000. How much amount to be recorded in Income and Expenditure Account after considering the following information:

1 Views
CLAT Current Affairs with GK ...
Apply
Stay updated with current affairs & check your preparation with the CLAT General Knowledge Mock Tests Ebook
CLAT English Language Mock Tests
Apply
Free Ebook - CLAT 2025 English Language questions with detailed solutions
ICFAI Business School-IBSAT 2024
Apply
9 IBS Campuses | Scholarships Worth Rs 10 CR
CLAT Legal Reasoning Mock Tests
Apply
Free Ebook - CLAT 2025 legal reasoning questions with detailed solutions
GIBS Business School Bangalor...
Apply
100% Placements with 220+ Companies
Great Lakes PGPM & PGDM 2025
Apply
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books