From the following information, calculate the amount of sports material
to be debited to 'Income and Expenditure Account of a sports club for the
year ending 31st March, 2019:
₹ F
10,000
7,500
20,000
Stock of Sports Material on 1st April, 2018
Stock of Sports Material on 31st March, 2019
Creditors for Sports Material on 1st April, 2018
Creditors for Sports Material on 31st March, 2019
Payment made to creditors of Sports Material
during the year ending 31st March, 2019
22,500
1,00,000
7
B/3
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Answer:
What amount of sports material will be posted to Income and Expenditure Account for the year ended March 31, 2006 as expenditure?
Amt.(Rs.)
Stock of sports material as on April 1, 2011 7,500
Creditors for sports material as on April 1, 2011 2,000
Stock of sports material as on March 31, 2012 6,200
Amount paid for sports material during the year 2011-12 17,000
Advance paid for sports material as on March 31, 2012 3,500
Creditors for sports material as on March 31,2012 1,200
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ANSWER
Details Amt.(Rs.)
Amount Paid for sports material during the year 2011-12
(+) Creditors for sports material Purchases 31.03.2012
(-) Creditors for medicines Purchases 1.04.2011
(-) Advance Paid for sports material on 31.03.2012
(+) Opening stock of sports material as on 1.4.2011
(-) Closing stock om Medicine as on 31.03.2012
Amount of sports material consumed during the year to be
posted to income and expenditure account 17,000
1,200
18,200
2,000
3,500
12,700
7,500
20,200
6,200
14,000
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