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Question
On the basis of information given below, calculate the amount of medicines to be debited to the Income and Expenditure Account of Good Health Hospital for the year ended 31st March, 2019:
| Particulars | 1st April, 2018 (₹) |
31st March, 2019 (₹) |
| Stock of Medicines | 1,75,750 | 1,44,650 |
| Creditors for Medicines | 15,06,900 | 18,20,700 |
Medicines purchased during the year ended 31st March, 2019 were ₹ 60,80,700.
Ledger
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Solution
| Statement of Medicine Consumed during the year ended 31st March, 2019 |
|
| Particulars | Amount (₹) |
| Medicine Purchased during the year 2018-19 | 60,80,700 |
| Add: Stock in the beginning (as on April 01, 2018) | 1,75,750 |
| Less: Stock at the end (as on March 31, 2019) | (1,44,650) |
| Medicine to be debited to Income and Expenditure Account | 61,11,800 |
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