Ledger
| (Calculation of stationery consumed during the year) | |||||
| 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.
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Solution
In the books of _____________
| Dr | 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 | |||||
Concept: Income and Expenditure Account
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