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Question
How will the following appear in the final accounts of Vedaranyam Sports club?
| Particulars | ₹ |
| Opening stock of bats and balls | 3,000 |
| Purchase of bats and balls during the year | 17,000 |
| Sale of old bats and balls | 2,000 |
| Closing stock of bats and balls | 4,000 |
Ledger
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Solution
| Dr. | Income and Expenditure Account for the year ended | Cr. | ||
| Expenses | ₹ | ₹ | Income | ₹ |
| To Opening stock | 3,000 | By Sale of Old Bats and Balls | 2,000 | |
| (+) Purchased | 17,000 | |||
| 20,000 | ||||
| (−) Closing stock | 4,000 | 16,000 | ||
Balance Sheet as on ___________
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Closing stock of Bats and Balls | 4,000 |
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