Q.No.21 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

Question 21 Chapter 1 of +2-A

21. On the basis of information given below, calculate the number of medicines to be debited to the income and expenditure account of Good Health Hospital for the year ended 31st March 2019:

Particulars	1st April 2018	31st March 2019
	Rs.	Rs.
Stock of Medicine	1,75,750	1,44,650
Creditors for Medicine	15,06,900	18,20,700

Medicines purchased during the year ended 31st March 2019 were Rs 60,80,700.

The solution of Question 21 Chapter 1 of +2-A: -

Statement Showing Medicines consumed during the year

Particular	Amount
Medicines Purchased during the year	60,80,700
Add: - Opening Stock of Medicines as on 01/04/2018	1,75,750
	62,56,450
Less: - Closing Stock of Medicines as on 31/03/2019	1,44,650
The amount for Medicine debited to the Income and Expenditure A/c	61,11,800

 

Income and Expenditure Account

Particular	Amount	Particular	Amount
To Medicines Consumed	61,11,800

                                        

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Also, Check out the solved question of previous Chapters: -

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 - Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 - Accounting for Partnership Firms - Fundamentals
• Chapter No. 3 - Goodwill: Nature and Valuation
• Chapter No. 4 - Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 - Admission of a Partner
• Chapter No. 6 - Retirement/Death of a Partner
• Chapter No. 7 - Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 - Company Accounts -  Accounting for Share Capital
• Chapter No. 9 - Company Accounts - Issue of Debentures
• Chapter No. 10 - Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 - Financial Statements of a Company
• Chapter No. 2 - Financial Statement Analysis 
• Chapter No. 3 - Tools of Financial Statement Analysis - Comparative Statements and Common- Size Statements
• Chapter No. 4 - Accounting Ratios
• Chapter No. 5 - Cash Flow Statement

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