Question

How much amount will be shown in income and expenditure account in the
following case?
1-4-2008 31-3-2009
(i) Creditors for stationery 8,000 6,000
(ii) Stock of stationery
3,000 3,200
During 2008-2009 payment made for stationery was * 60,000​

Answer 1

Answer:

amount shown in income and expenditure account

amount paid for stationary. = 60000

(-) creditors for year 1.4.2008 8000

(+) creditors fir year 31.3.2009 6000

purchase of stationary. = 58000

(+) opening stock if stationary. =3000

(-) closing stock of stationary. = 3200

amount consumed of stationary = 57800