Q.No.23 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

Statement Showing stationery used during the year

Particular	Details	Amount
Amount paid for stationery during the year ended 31st March 2019		5,400
Add: - Opening Stock of Stationery	-
Closing Creditors for Medicines	-	-
		5,400
Less: - Closing Stock of Medicines	250
Opening Creditors for Medicines	-
		250
The amount for Medicine debited to the Income and Expenditure A/c		5,150

 

Income and Expenditure Account

Particular	Amount	Particular	Amount
To Medicines Consumed	5,150

The solution of (ii) :                

Statement Showing stationery used during the year

Particular	Details	Amount
Amount paid for stationery during the year ended 31st March 2019		5,400
Add: - Opening Stock of Stationery	1,500
Closing Creditors for Medicines	-	1,500
		6,900
Less: - Closing Stock of Medicines	250
Opening Creditors for Medicines	-
		250
The amount for Medicine debited to the Income and Expenditure A/c		6,650

 

Income and Expenditure Account

Particular	Amount	Particular	Amount
To Medicines Consumed	6,650

The solution of (iii): -

Statement Showing stationery used during the year

Particular	Details	Amount
Amount paid for stationery during the year ended 31st March 2019		5,400
Add: - Opening Stock of Stationery	1,500
Closing Creditors for Medicines	-	1,500
		5,400
Less: - Closing Stock of Medicines	250
Opening Creditors for Medicines	1,000
		1,250
The amount for Medicine debited to the Income and Expenditure A/c		5,650

 

Income and Expenditure Account

Particular	Amount	Particular	Amount
To Medicines Consumed	5,650

 

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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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication