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
- : –
- T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- 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)
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 | |||||
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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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
