Question 28 Chapter 1 of Class 12 Part – 1
28. From the following information, calculate the amount of sports material to be debited to the Income and Expenditure Account of a Sports Club for the year ended 31st March, 2018
| Particulars | Rs. |
| Stock of sports material as on 1st April, 2017 | 20,000 |
| Balance of sports material as on 31st March, 2018 | 15,000 |
| Creditors for sports material as on 1st April, 2017 | 40,000 |
| Creditors for sports material as on 31st March, 2018 | 45,000 |
| Payment made for sports material creditors during the year ended 31st March, 2018 | 2,00,000 |
The solution of Question 28 Chapter 1 of Class 12 Part – 1: –
Income and Expenditure Account
For the year ended on 31st March, 2018
| Expenditure | Amount | Income | Amount | |
| To Sports Material Consumed | ||||
| Payment made | 2,00,000 | |||
| Less: Creditors in the beginning | 40,000 | |||
| 1,60,000 | ||||
| Add: Creditors at the end | 45,000 | |||
| 2,05,000 | ||||
| Add: Stock in the beginning | 20,000 | |||
| 2,25,000 | ||||
| Less: Stock at the end | 15,000 | 2,10,000 | ||
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Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution
Chapter No. 1 – Accounting Not for Profit Organisations
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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)
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
Chapter No. 1 – Financial Statements of a Company
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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
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