Question 7 Chapter 1 – Unimax Class 12 Part 1 – 2021

Question 7 Chapter 1 - Unimax Class 12 Part 1 - 2021

Question 7 Chapter 1 – Unimax Class 12 Part 1

Free Accounting book Solution - Class 11 and Class 12

7. Calculate the amount to be posted to Income and Expenditure Account for the year ending 31.12.2021 in respect of ‘Stationery’.

Stock of Stationery on Jan. 1, 2021 300
Creditors for stationery on Jan. 1, 2021 200
Advance paid for stationery carried forward from 2020 80
Amount paid for stationery during 2021 2,050
Stock of Stationery on Dec. 31, 2021  40
Advance paid for stationery on 31.12.2021 25

The solution of Question 7 Chapter 1 – Unimax Class 12 Part 1: 

Particulars Amount
Opening Stock of Stationery as on Jan. 1, 2012   300
Add: – Advance paid for stationery carried forward from 2011   80
Add: – Amount paid for stationary during the year 2012   2050
    2430
Less: – Creditors for stationery as on Jan. 1, 2012 200  
Less: – Stock of stationery as on Dec. 31, 2012 40  
Less: – Advance paid for stationery as on Dec. 31, 2012 25 265
Amt. of stationery to be posted in income and Expenditure A/c 2165

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Read out the full article to know the meaning of Not for Profit Organisations

Not-for-Profit Organisations – Meaning and Overview

Also, Check out the same article in Hindi from the following link

Not-for-Profit Organisations – Meaning and Overview

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

Accountancy – Unimax Class 12 Part 1 – 2021 – Solution.

Chapter No. 1 – Accounts of Non-Profit Organisations

Chapter No. 2 – Partnership Accounts – I (Basic Concepts)

Chapter No. 3 – Partnership Accounts – II (Goodwill)

Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)

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)

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)

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)