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

Question 21 Chapter 1 of +2- Part-1

Question 21 Chapter 1 of +2-Part-1

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: –

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

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

 

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2 Book 1 min - Question 21 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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