Question

(Calculation of stationery consumed during the year)

Balance Sheet as on 01.04.2018
Liabilities	Amt. ₹	Amt. ₹	Assets	Amt. ₹	Amt. ₹
			Stock of Stationery		400

 

Dr	Receipts and Payments Account for the year ending 31.03.2019				Cr
Receipts	Amt. ₹	Amt. ₹	Payments	Amt. ₹	Amt. ₹
			By Stationery Purchased		6,300

Adjustments :

1. ₹ 1,000 Outstanding for Stationery bill.

2. Stock of Stationery as on 31.03.2019 was valued at ₹1,800

With the above information, calculate the amount of Stationery consumed during the year and show its presentation in final Accounts of a concern.

Answer 1

Dr	In the books of _____________ Income and Expenditure Account for the year ended 31st March, 2019						Cr
Expenditure		Amount (₹)	Amount (₹)	Income	Amount (₹)	Amount (₹)
To Stationery Consumed during the Year
Opening Stock		400
Add: Stationery Purchased during the Year		6,300
Add: Credit Purchase of Stationery (Outstanding bill)		1,000
		7700
Less: Closing Stock of Stationery		1800	5,900