Question 15 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 1 of +2- Part-1

Question 15 Chapter 1 of +2-Part-1

15. (Medicine Consumption) Calculate the amount of expenditure on medicine to be debited to Income and Expenditure account for the year ending 31-3-2015:

Particulars  01-04-14 31-03-15
Stock of medicines 22,500 19,200
Creditors for medicines 6,000 7,800

Amount paid for medicines during the year Rs.57,000.

 

The solution of Question 15 Chapter 1 of +2 Part-

: – 

Amount of Expenditure to be debited to Income and Expenditure account:

Amount paid for medicines during the year 57,000
Add: – Creditors for medicines at the end of year 7,800
Opening stock of medicines 22,500
  87,300
Less: – Opening balance of creditors for medicines (6,000)
Closing stock of medicines (19,200)
Amount of expenditure debited to the Income and Expenditure A/c 62,100


Thanks, Please Like and share with your friends  

Comment if you have any questions.

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)

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

2 Book 1 min - Question 15 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.