Question

1. (a) On the basis of following information, calculate the amount that will appear against the item, Stationery
Account, in the Income and Expenditure Account for the year ended 31 December, 2020 :
Stock of Stationery on 1 January 2020
Creditors for Stationery on 1 January 2020
Amount paid for stationery during 2020
Stock of Stationery on 31 December 2020
Creditors for Stationery on 31 December 2020
[Ans. : 1,260]
300
200
1,080
50
130​

Answer 1

Answer:

1. (a) On the basis of following information, calculate the amount that will appear against the item, Stationery

Account, in the Income and Expenditure Account for the year ended 31 December, 2020 :

Stock of Stationery on 1 January 2020

Creditors for Stationery on 1 January 2020

Amount paid for stationery during 2020

Stock of Stationery on 31 December 2020

Creditors for Stationery on 31 December 2020

[Ans. : 1,260]

300

200

1,080

50

130