Accountancy, asked by anantpratap29, 8 months ago

How much spots items to be debited to Income and Expenditure A/C on the basis of following information for the year 2019- 20. Stock of sports item - 1-4-2019 Rs. 44700 Paid for Sports item during the year Rs. 97900 Stock of sports item 31-3-2020. Rs.24500 Creditors for Sports item 31-3-2020 Rs. 26500

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Answered by msjayasuriya4

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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