Question 21 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part

Question 21 Chapter 1 of +2-Part-1

Table of Contents

21. (Stationary Consumption)Calculate the amount to be posted to Income and Expenditure account as expenditure on stationery:

(a)	Advance paid for the stationary at the beginning and at the end if the year Rs.800 and Rs.850 respectively.
(b)	Stock of stationery at the beginning and at the end of the year Rs.600 and Rs.550 respectively.
(c)	Creditors of stationary at the beginning and at the end of the year Rs.900 and Rs.700 respectively.
(d)	Amount paid for creditors for stationary during the year Rs.6,500 and cash purchases were Rs.2,500.

The solution of Question 21 Chapter 1 of +2 Part-1: –

Amount to be posted to Income and Expenditure Account for the year ending 31-3-2015
Particular		Amount
Opening stock of stationary in beginning of year		600
Add: Advance paid for stationary at the beginning of year	800
Amount paid for stationary during the year	6,500
Creditors for stationary at the end of year	700	8,000

Less: Creditors for stationary at the beginning of year	900
Stock of stationary at the end of year	550
Advance paid for stationary at the end of year	850	(2,300)
		6,300
Add: Cash purchases		2,500
Amount to be debited in Income and Expenditure account		8,800

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

Chapter No. 1 – Financial Statements of a Company
Chapter No. 2 – Financial Statement Analysis
Chapter No. 3 – Tools of Financial Statement Analysis- Comparative and Common Size
Chapter No. 4 – Ratio Analysis
Chapter No. 5 – Cash Flow Statement