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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 |
Ledger
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Solution
|
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 |
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