Question 18 Chapter 1 of +2-Part-1 – USHA Publication 12 Class Part – 1

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 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: –

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

 

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