Question

calculate the amount of medicines consumed during the year ended 31st match 2019
opening stock of medicine 50000,closing stock of m3dicine 45000 more than opening stock ,amount paid for medicine during the year 200000 opening creditors 20000,closing creditors 50% of opening creditors
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Answer 1

This is the correct answer!

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Answer 2

GIVEN :  Opening Stock of medicines = 50,000 ; Closing Stock of medicine = 45,000 more than opening stock ; Amount paid for medicine during the year = 2,00,000 ; Opening Creditor = 20,000 ; Closing Creditor = 50% of opening creditor  

TO FIND : Amount of medicines consumed during the year

SOLUTION :

Closing Stock = 45,000 more than opening stock

                      =  45,000 + 50,000

                       = 95,000

Closing Creditor = 50% of opening creditor

                             = 50 × $\frac{20,000}{100}$

                              = 10,000

Amount of medicines consumed = Opening Stock + Amount paid for medicines during the year - Closing Stock - Opening Creditor + Closing Creditor

                       =  50,000 + 2,00,000 - 95,000 - 20,000 + 10,000

                       = 2,60,000  - 1,15,000

                         = 1,45,000

Amount of medicines consumed during the year is 1,45,000 .

Amount of medicines consumed during the year is 1,45,000 .