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On the basis of the following information, calculate amount that will appear against the term 'Stationery Used' in the Income and Expenditure Account for the year ended 31st March, 2019: - Accountancy

Ledger

On the basis of the following information, calculate amount that will appear against the term 'Stationery Used' in the Income and Expenditure Account for the year ended 31st March, 2019:

 
Stock of Stationery as at 1st April, 2018 12,000
Creditors for Stationery as at 1st April, 2018 25,600
Amount paid for Stationery during the year ended 31st March, 2019 140,000
Stock of Stationery as at 31st March, 2019 23,200
Creditors for Stationery as at 31st March,2019 24,000
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Solution

Statement of Stationery Consumed

for the year ended March 31, 2019

Particulars 

Amount ()

Amount paid for Stationery during the year 2018-19

1,40,000

Add: Opening Stock (as on April 01, 2018)

12,000

Less: Closing Stock (as on March 31, 2019)

(23,200)

Add: Creditors at the end (as on March 31, 2019)

24,000

Less: Creditors in the beginning (as on April 01, 2018)

(25,600)

Amount of Stationery be shown in Income and Expenditure Account 

1,27,200

  Is there an error in this question or solution?
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APPEARS IN

TS Grewal Class 12 Accountancy - Double Entry Book Keeping Volume 1
Chapter 1 Financial Statements of Not for Profit Organisations
Exercise | Q 24 | Page 61
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