Question 28 Chapter 1 of Class 12 Part – 1 VK Publication

Question 28 Chapter 1 of Class 12 Part - 1 VK Publication

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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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)

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

Chapter No. 2 – Financial Statement Analysis

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

Chapter No. 4 – Ratio Analysis