Question

In a hospital the opening stock of medicine was Rs. 32000 and closing stock was Rs. 14,000. What amount will be debited in 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

Given:

Opening Stock of Medicine = 32,000

Closing Stock of Medicine = 14,000

Amount for medicines in Receipts and Payments A/c = 1,35,000

To Find:

Amount debited in Income and Expenditure A/c

Solution:

According to the formula of Stock -

Stock consumed = Opening stock + total amount for medicines - Closing stock

= 32,000 + 1,35,000 - 14,000

= 1,53,000

Answer: The  Amount debited in Income and Expenditure A/c is 1,53,000

Answer 2

Answer:

153000

Explanation:

According to the information given in question statement,

Opening stock of Medicine in Hospital = 32000

Closing stock of Medicine in Hospital = 14,000

Difference in stock level = 32000 - 14000 = 18000

Over and above this stock value, 135000 was received against the medicines that have been sold.

Hence the amount debited in Income and Expenditure A/c will be

=18000 + 135000

= 153000