Calcualte the amount of sports material to be transferred to income and expenditure account of kanan Bala sports club, ludhiana for the year ended 31st March ,2018 . (i) sports material sold during the year (book value rs 50,000) - 56,000 . (ii) amount paid to creditors for sports material - 91,000 . (iii) cash purchase of sports material 40,000 . (iv) stock of sports material as on 31.03.2017 - 50,000 .
(v) stock of sports material as on 31.03.2018 - 55,000 . (vi) creditors for sports material as on 31.03.2017 - 37,000. (vii) creditors for sports material as on 31.03.2018 - 45,000.
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