Question 22 Chapter 1 of +2-A
Table of Contents
22. Calculate the number of medicines consumed during the year ended 31st March 2019:
| Opening Stock of Medicines | 1,00,000 |
| Opening Creditors for Medicines | 18,20,700 |
| Cash Purchases of Medicines During the year | 3,00,000 |
| Closing Stock of Medicines | 1,50,000 |
| Closing Creditors for Medicines | 1,30,000 |
The solution of Question 22 Chapter 1 of +2-A: –
| Statement Showing Medicines consumed during the year |
||
| Particular | Details | Amount |
| Cash Purchase of Medicines during the year | 3,00,000 | |
| Add: – Opening Stock of Medicines | 1,00,000 | |
| Closing Creditors for Medicines | 1,30,000 | 2,30,000 |
| 5,30,000 | ||
| Less: – Closing Stock of Medicines | 1,50,000 | |
| Opening Creditors for Medicines | 90,000 | |
| 2,40,000 | ||
| The amount for Medicine debited to the Income and Expenditure A/c | 2,90,000 | |
Note: Because of in this question, we have only cash paid for the purchase of medicines, not a total purchased of Medicines, that’s why we have treated opening & closing creditors for the medicine to get the total amount of purchase.
| Income and Expenditure Account |
|||
| Particular | Amount | Particular | Amount |
| To Medicines Consumed | 2,90,000 | ||
Not-for-Profit Organisations – Meaning and Overview
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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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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
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