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

Question 18 Chapter 1 of +2- Part-1
Q-18- CH-1 - Usha +2 Book 2018 - Solution

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Question 18 Chapter 1 of +2-Part-1

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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 1.1.20149,000
Sports material on 31.3.20158,000
Creditors for sports material on 1.4.20144,000
Cash paid to creditors38,000
Creditors for sports material on 31.3.20157,000

 

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 materials9,000   
Add: Opening Stock38,000   
Closing Creditors7,000   
Less: Closing stock 8,000   
Creditors opening4,000   
   42,000  

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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