Question 23 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 23 Chapter 1 of +2-A

Question 23 Chapter 1 of +2-A

23. Calculate the amount to be posted to the Income and Expenditure Account for the year ended 31st March 2019:

  1. Amount paid for stationery during the year ended 31st March 2019 – Rs 5400; Stock of Stationery in Hand on 31st March 2019 – Rs 250.
  2. The stock of Stationery in Hand on 1st April 2018 – Rs 1,500; Payment made for stationery during the year ended 31st March 2019 – Rs. 5,400; Stock of Stationery in Hand on 31st March 2019 – Rs 250.

The stock of Stationery on 1st April 2018 1,500
Creditors for Stationery on 1st April 2018 1,000
Amount paid for Stationery during the year 5,400
The stock off Stationery on 31st  March 2019 250

The solution of Question 23 Chapter 1 of +2-A

: –

The solution of (i) : –

Statement Showing stationery used during the year
Particular
Details Amount
Amount paid for stationery during the year ended 31st March 2019   5,400
Add: – Opening Stock of Stationery  
Closing Creditors for Medicines
    5,400
Less: – Closing Stock of Medicines 250  
Opening Creditors for Medicines  
    250
The amount for Medicine debited to the Income and Expenditure A/c   5,150

 

Income and Expenditure Account
Particular Amount Particular Amount
To Medicines Consumed 5,150    
       

The solution of (ii) :                

Statement Showing stationery used during the year
Particular Details Amount
Amount paid for stationery during the year ended 31st March 2019   5,400
Add: – Opening Stock of Stationery 1,500  
Closing Creditors for Medicines 1,500
    6,900
Less: – Closing Stock of Medicines 250  
Opening Creditors for Medicines  
    250
The amount for Medicine debited to the Income and Expenditure A/c   6,650

 

Income and Expenditure Account
Particular Amount Particular Amount
To Medicines Consumed 6,650    
       

The solution of (iii) : –

Statement Showing stationery used during the year
Particular Details Amount
Amount paid for stationery during the year ended 31st March 2019   5,400
Add: – Opening Stock of Stationery 1,500  
Closing Creditors for Medicines 1,500
    5,400
Less: – Closing Stock of Medicines 250  
Opening Creditors for Medicines 1,000  
    1,250
The amount for Medicine debited to the Income and Expenditure A/c   5,650

 

Income and Expenditure Account
Particular Amount Particular Amount
To Medicines Consumed 5,650    
       

 

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)

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)

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2 Book 1 min - Question 23 Chapter 1 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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