Question

(Calculation of Drugs Consumed during the year)
From the information given below calculate the amount of Drugs consumed in a hospital, during the year 2012-2013. Show its presentation in Income and Expenditure Account and Balance Sheet as on 31-03-2013.

Stock Drugs in Hand	On 01-04-2012 Rs 25,000	On 31-03-2013 Rs 27,000
Drugs purchased during the year	Rs 1,20,000	-
Bill of drugs payable on 31-03-2013	Rs 19,500.	-

Answer 1

Income and Expenditure Account

for the year ending March 31,2013
Dr.                                                                                                   Cr.

Expenditure	Amount (Rs)	Amount (Rs)	Income	Amount (Rs)
Stock of Drugs Consumed during the year		137,500
Stock of Drugs as on Apr.01,2012	25,000
Add: Purchases	120,000
Add: Outstanding Bill	19,500
Less: Stock of Drugs at the end of Mar.31,2013	27,000

Balance Sheet

as on March 31, 2013

Liabilities	Amount (Rs)	Assets	Amount (Rs)
Outstanding Bill of Drugs	19,500	Stock of Drugs	27,000