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Question 26 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 26 Chapter 1 of +2-A
Question No.26 - Chapter No.1 - T.S. Grewal +2 Book Part-A 2019-Solution-min-min

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Question 26 Chapter 1 of +2-A

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26. Calculate the amount of sports material to be transferred to Income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March 2018:

 ParticularsRs
(i)Sports Material sold during the year (Book Value Rs 50,000)56,000
(ii)Amount paid to creditors for Sports Materials91,000
(iii)Cash Purchased of sports material40,000
(iv)Sports Material as on 31st March 201750,000
(v)Sports Material as on 31st  March 201855,000
(vi)Creditors for Sports Material as on 31st  March 201737,000
(vii)Creditors for Sports Material as on 31st March 201845,000

The solution of Question 26 Chapter 1 of +2-A: –

Statement Showing stationery used during the year
Particular DetailsAmount
Amount paid for stationery during the year ended 31st March 2019 91,000
Add: – Opening Stock of Sports Material50,000 
Closing Creditors for Sports Material45,000 
Cash Purchase of Sports Material40,0001,35,000
  2,26,000
Less: – Closing Sports Material55,000 
Opening Creditors for Sports Material37,000 
Book Value of sale of Sports Material50,000 
  1,42,000
The amount for Medicine debited to the Income and Expenditure A/c 84,000

 

Income and Expenditure Account
Particular AmountParticularAmount
To Sports Material Expenses84,000  
    

 

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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)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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