Question

Q.1How much amount will be shown in Income and Expenditure A/c in the following case :Amount paid for Stationery purchased during 2019-2020 ₹20,000Creditors for Stationery on 31-3-2020 ₹1,800Stock of Stationery on 31-3-2020 ₹2,000
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Answer 1

Answer:

19800

Explanation:

Stationery Purchased  20,000

Add. Creditors                 1,800

                                       21,800

Less. Closing Stock        2,000  

                                       19,800        

Answer 2

Answer:

Given :

• Amount paid for Stationery purchased during 2019-2020 - ₹20,000

• Creditors for Stationery on 31-3-2020 - ₹1,800

• Stock of Stationery on 31-3-2020 - ₹2,000

To Find :

The amount will be shown in I & E account.

Solution :

Amount paid For Stationery

during 2019-20 - 20,000

Add : Creditors for Stationery - 1,800

Less : Closing Stock Of

Stationery - 2,000

_______

19,800

Amt. of stationery to be shown in I & E ac is 19,800

Working Note :

= 20,000 + 1,800 - 2,000

= 21,800 - 2,000

= 19,800

• Creditors for Stationery on closing date ( 31-3-20 ) is added with the amount paid For Stationery.

• Closing Stock is deducted from the amount paid for Stationery on 2019-20