
Question 18 Chapter 1 of +2-Part-1
18. (Sports Material Consumption) Calculate the amount of sports material to be charged to Income and Expenditure account for the year ended 31-3-15.
Particulars | Rs. |
Sports material on 1.1.2014 | 9,000 |
Sports material on 31.3.2015 | 8,000 |
Creditors for sports material on 1.4.2014 | 4,000 |
Cash paid to creditors | 38,000 |
Creditors for sports material on 31.3.2015 | 7,000 |
The Content covered in this article:
The solution of Question 18 Chapter 1 of +2-Part-1: –
Income and Expenditure Account for the year ending 31-3-201 |
|||||
Expenditure |
Amount |
Income |
Amount |
||
Opening stock of sports materials | 9,000 | ||||
Add: Opening Stock | 38,000 | ||||
Closing Creditors | 7,000 | ||||
Less: Closing stock | 8,000 | ||||
Creditors opening | 4,000 | ||||
42,000 |
Thanks, Please Like and share with your friends
Comment if you have any questions.
Also, Check out the solved question of previous Chapters: –
Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
- Chapter No. 1 – Accounting Not for Profit Organisations
- Chapter No. 2 – Partnership Accounts – I
- Chapter No. 3 – Partnership Accounts – II (Introduction)
- Chapter No. 4 – Partnership Accounts – III (Goodwill: Nature and Valuation)
- Chapter No. 5 – Partnership Accounts – IV (Reconstitution of Partnership)
- Chapter No. 6 – Partnership Accounts – V (Admission of A Partner)
- Chapter No. 7 – Partnership Accounts – VI (Retirement and Death of A Partner)
- Chapter No. 8 – Company Accounts (Share Capital)
- Chapter No. 9 – Company Accounts (Issue of Debentures)
- Chapter No. 10 – Company Accounts (Redemption of Debentures)
Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution
- Chapter No. 1 – Financial Statements of a Company (Balance Sheet Only)
- Chapter No. 2 – Techniques of Financial Statement Analysis
- Chapter No. 3 – Ratio Analysis
- Chapter No. 4 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
