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Question
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 |
Ledger
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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 |
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