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:
April 1, 2019 March 31, 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.5,10,000
Option 2: Rs.5,00,000
Option 3: Rs.4,90,000
Option 4: Rs.5,20,000
Correct Answer: Rs.4,90,000
Solution :
Stationery purchased during the year ended = Rs 4,70,000
(+) Opening stock = Rs.80,000
(-) Closing stock =
(Rs.60,000)
Amount of stationery consumed =
Rs.4,90,000
Hence, the correct option is 3.
