Calculate the amount of sports material to be transferred to income and expenditure account of raman Bhalla sports club,ludhiana.for the year ended 31st March,2018:
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Answer:
Calculation of amount of sports material to be transferred to Income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana for the year ended on 31st March, 2018. Particulars Amount (Rs.) Payment to creditors of sports material 91,000 Add: Closing creditors of sports material 45,000 Less: Opening creditors of sports material (37,000) Add: Cash purchases of sports material 40,000 Total purchases 1,39,000 Less: Sports material sold during the year (Book Value) (50,000 Add: Opening stock of sports material 50,000 Less: Closing stock of sports material (55,000) Amount to be shown to Income and Expenditure Account 84,000 Read more on Sarthaks.com - https://www.sarthaks.com/294078/calculate-the-amount-of-sports-material-to-be-transferred-income-and-expenditure-account
I have done it in accounts format. you can also do it in statement format. please mark as brainliest
