Question

Prepare the Stationery Account of a firm for the year ended 31st December, 2018 from the following details and transfer the balance to the appropriate account:
2018
Jan. 1 Stock in hand 480.
Apr. 5 Purchase of stationery by cheque * 800.
Nov. 15 Purchase of stationery on credit from Five Star Stationery Mart, * 1,280.
Dec. 20 Purchase of stationery from petty cash 80.
31 Stock in hand * 240.​

Answer 1

Answer:

stationary a/c

dr. cr.

balance b/d. 480. profit &loss. 2400

bank a/c. 800

star stationary 1280

cash. 80. balance c/d. 240

. 2640 2640

Answer 2

Sales Ac 2400

GIVEN: Balances regarding stationery account.
TO FIND: Appropriation of balance
SOLUTION:As we know,

Stationery in this case is considered as an asset account by the firm and the same golden rule is applied . Increase of the same is debited and decrease is to be credited.

It is to be considered as real or actual account . That may contain all the information regarding purchase and disposal of stationery.

The required account will be prepared as follows.

                                          Stationery Account

      Particulars                  Amount           Particulars                   Amount
By Balance bd                     480             To Sales Ac                    2400

By bank Ac                          800               ( balancing figure)

By Five Star Stationery       1280

Mart Ac

By Cash Ac                           80                To Balance cd                240

                                          2640                                                       2640

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