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

Question 18 Chapter 1 of +2- 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: –

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 18 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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