Calculate 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: 7
Particulars (`)
(i) Sports Material sold during the year (Book value ` 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
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