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-1: – 

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


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

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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