Question

In a hospital, the opening stock of medicine was Rs.30,000 and the closing stock was Rs.14,000. What amount will be debited to Income and Expenditure A/c if the amount paid for medicines as per Receipts and Payments A/c is Rs.1,35,000?

Answer 1

cost of material consumed = 1,35,000+30,000-14,000 = 1,51,000