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Question 7 Chapter 1 - Unimax Class 12 Part 1
7. Calculate the amount to be posted to Income and Expenditure Account for the year ending 31.12.2021 in respect of ‘Stationery’.
| Stock of Stationery on Jan. 1, 2021 | 300 |
| Creditors for stationery on Jan. 1, 2021 | 200 |
| Advance paid for stationery carried forward from 2020 | 80 |
| Amount paid for stationery during 2021 | 2,050 |
| Stock of Stationery on Dec. 31, 2021 | 40 |
| Advance paid for stationery on 31.12.2021 | 25 |
| Particulars | Amount | |
|---|---|---|
| Opening Stock of Stationery as on Jan. 1, 2021 | 300 | |
| Add: - Advance paid for stationery carried forward from 2020 | 80 | |
| Add: - Amount paid for stationary during the year 2021 | 2050 | |
| 2430 | ||
| Less: - Creditors for stationery as on Jan. 1, 2021 | 200 | |
| Less: - Stock of stationery as on Dec. 31, 2021 | 40 | |
| Less: - Advance paid for stationery as on Dec. 31, 2021 | 25 | 265 |
| Amt. of stationery to be posted in income and Expenditure A/c | 2165 | |
It is all about Question 7 Chapter 1 of Class 12 unimax, If you have any problem please comment below.
Read out the full article to know the meaning of Not for Profit Organisations
Not-for-Profit Organisations – Meaning and Overview
Also, Check out the same article in Hindi from the following link
Not-for-Profit Organisations – Meaning and Overview
Also, Check out the solved question of all Chapters: –
Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.
Chapter No. 1 – Accounts of Non-Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
Chapter No. 3 – Partnership Accounts – II (Goodwill)
Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
Chapter No. 2 – Partnership Accounts – I (Introduction)
Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
Chapter No. 8 – Company Accounts (Share Capital)
Chapter No. 9 – Company Accounts (Issue of Debentures)
Chapter No. 10 – Company Accounts (Redemption of Debentures)
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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