Question 24 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.24 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

Question 24 Chapter 1 of +2-A

24. On the basis of the following information, calculate the amount that will appear against the item “Stationery Used” in the Income and Expenditure Account for the year ended 31st March 2019

 The stock of Stationery as at 1st April 2018 12,000 Creditors for Stationery as at 1st April 2018 25,600 Amount paid for Stationery during the year ended 31st March 2019 1,40,000 The stock off Stationery as at31st  March 2019 23,200 Creditors for Stationery as at 31st  March 2019 24,000

The solution of Question 24 Chapter 1 of +2-A: –

 Statement Showing stationery used during the year Particular Details Amount Amount paid for stationery during the year ended 31st March 2019 1,40,000 Add: – Opening Stock of Stationery 12,000 Closing Creditors for Medicines 24,000 36,000 1,76,000 Less: – Closing Stock of Medicines 23,200 Opening Creditors for Medicines 25,600 48,800 The amount for Medicine debited to the Income and Expenditure A/c 1,27,200

 Income and Expenditure Account Particular Amount Particular Amount To Medicines Consumed 1,27,200

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

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