Question 17 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 1 of +2- Part-1

Question 17 Chapter 1 of +2-Part-1

17. (Stationary Consumption) Calculate what amount should be posted to Income and Expenditure Account for the year ended 31.12.2015.

Particulars  Rs.
Stock of Stationary on 1.1.2015 750
Creditors for stationary on 1.1.2015 500
Stock of stationery on 31.12.2015 125
Amount paid for stationary during the year 2,700
Creditors for stationary on 31.12.2015 325

 

 

The solution of Question 17 Chapter 1 of +2 Part-1

: – 

 

Income and Expenditure Account
for the year ending 31-3-201
Expenditure
Amount

Income

Amount

To Sports Material Consumed:        
Amount Paid 2,700      
Add: Opening Stock 750      
Closing Creditors  325      
Less: Closing stock  125      
Creditors opening  500      
    3,150    

 

 

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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)

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

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