Question

From the following information of a charitable dispensary, calculate the
amount of medicines consumed during the year that would appear in the
Income and Expenditure Account for the year ending 31st March, 2019:
Amount
Particulars
60,000
40,000
Stock of medicines on 1.4.2018
Creditors for medicines 1.4.2018
Stock of medicines 31.3.2019
Creditors for medicines 31.3.2019
Advances for medicines 31.3.2019
Credit purchases of medicines during the year
Cash purchases of medicines during the year
10,000
25,000
22,000
2,76,000
46,500​

Answer 1

Answer:96500

Explanation:

Here creditors are of no use as the decrease which indicates payment incash on the other hand stock account will be made and opening = 60000 closing =10000 cash puracjse =46500 therfore consumed = 96500

Answer 2

Answer:

The amount of medicines consumed during the year can be calculated as follows.

Explanation:

From the above question,

They have given :

From the following information of a charitable dispensary, calculate the

amount of medicines consumed during the year that would appear in the Income and Expenditure Account for the year ending 31st March, 2019:

The amount of medicines consumed during the year can be calculated as follows:

Start with the stock of medicines on 1.4.2018: 60,000

Add credit purchases of medicines during the year: 2,76,000

Add cash purchases of medicines during the year: 46,500

Total amount of medicines available: 3,82,500

Subtract the stock of medicines on 31.3.2019: 22,000

Subtract the creditors for medicines 31.3.2019: 25,000

Subtract the advances for medicines 31.3.2019: 10,000

Total amount of medicines consumed during the year: 3,25,500

So, the amount of medicines consumed during the year that would appear in the Income and Expenditure Account for the year ending 31st March, 2019 is 3,25,500.

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