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Question 27 Chapter 1 of Class 12 Part – 1 VK Publication

Question 27 Chapter 1 of Class 12 Part - 1 VK Publication
Question 27 Chapter 1 of Class 12 Part - 1 VK Publication

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Question 27 Chapter 1 of Class 12 Part – 1

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  1. Calculate what amount will be posted to Income and Expenditure Account for the year Ending 31st March, 2018 for Stationery: 
ParticularsRs.
Stock of Stationery on 1st April, 2017600
Creditors for the Stationery on 1st April, 2017300
Advances paid for Stationery carried forward from 2016-17120
Total amount paid for Stationery during the year 2017-182,000
Stock of Stationery on 31st March, 2018800
Creditors for Stationery on 31st March, 2018290
Advance paid for Stationery on 31st March, 2018200

 

The solution of Question 27 Chapter 1 of Class 12 Part – 1: 

particularsRs.
Payment made for purchase of Stationery during the year 2,000
Less: Creditors in the beginning300 
Advance paid on 31st March, 2018200500
  1,500
Add: Creditors at the end290 
Stock in the beginning600 
Advances paid for carry forward from 2016-171201,010
  2,510
Less: Stock at the end 800
Stationery Expenses to be debited to the Income and Expenditure Account 1,710

 

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Also, Check out the solved question of all Chapters: –

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

Chapter No. 1 – Accounting Not for Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

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Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

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

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Chapter No. 1 – Financial Statements of a Company

Chapter No. 2 – Financial Statement Analysis

Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 4 – Ratio Analysis

Chapter No. 5 – Cash Flow Statement

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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