Question

Calculate the amount that will be posted to the income and Expenditure Account for the year ended 31st March, 2019:

	₹
Stock of Stationery on 1st April, 2018	30,000
Creditors for Stationery on 1st April, 2018	20,000
Advances paid for Stationery carried forward from the year ended 31st March, 2018	2,000
Amount paid for Stationery during the year ended 31st March, 2019	108,000
Stock of Stationery on 31st March, 2019	5,000
Creditors for Stationery on 31st March, 2019	13,000
Advance paid for Stationery  on 31st March, 2018	3,000

Answer 1

Statement of Stationery for the year ended Mar. 31, 2019
Particulars	Amount (₹)
Amount paid for Stationery during the year 2018-19	1,08,000
Add: Opening Stock (as on Apr. 01, 2018)	30,000
Less: Closing stock (as on Mar. 31, 2019)	5,000
Less: Creditors in the beginning (as on Apr. 01, 2018)	20,000
Add: Creditors at the end (as on Mar. 31, 2019)	13,000
Add: Advance in the beginning (as on Apr. 01, 2018)	2,000
Less: Advance at the end (as on Mar. 31, 2019)	3,000
Amount to be posted to Income and Expenditure Account	1,25,000