How will be the following items dealt in preparing the Income and Expenditure Account for the year ended 31st March, 2020 and a Balance Sheet as on that date? As at 1st April, As at 31st March, 2019 (`) 2020 (`) Suppliers for Sports Material 11,500 29,500 Stock of Sports Materials 37,500 76,000 During the year 2019-20, the payment made to these Suppliers amounted to 1,42,000 and Cash purchases amount to 40,000.
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Creditors for sports materials, 18,000, 41,000 ... Income & Expenditure A/c for the year ended 31st March 2019 ... Creditors for Sports Material, 41,000, Stock of Sports Material, 38,000 ...
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Account for the year ended 31st March, 2020 and a Balance Sheet as on that date? As at 1st April, As at 31st March, 2019 (`) 2020 (`) Suppliers for Sports Material 11,500 29,500 Stock of Sports Materials 37,500 76,000 During the year 2019-20, the payment made to these Suppliers amounted to 1,42,000 and Cash purchases amount to 40,000.
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