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Question
Calculate amount to be posted to the Income and Expenditure Account for the year ended 31st March, 2019:
| (i) | Amount paid for stationery during the year ended 31st March,2019 – ₹5,400; Stock of Stationery in Hand on 31st March, 2019 – ₹ 250 |
|
| (ii) | Stock of Stationery in Hand on 1st April, 2018 – ₹ 1,500; Payment made for Stationery during the year ended 31st March, 2019 – ₹ 5,400; Stock of Stationery in Hand on 31st March, 2019 – ₹ 250. |
|
| ₹ | ||
| (iii) | Stock of Stationery on 1st April, 2018 | 1500 |
| Creditors for Stationery on 1st April, 2018 | 1,000 | |
| Amount paid for Stationery during the year | 5,400 | |
| Stock of Stationery on 31st March, 2019 | 250 |
Solution
(a)
|
Statement of Stationery Consumed at the end of March 31, 2019 |
|
|
Particulars |
Amount (₹) |
|
Amount paid for Stationery during the year ended 31st March, 2019 |
5,400 |
|
Less: Closing Stock (as on March 31, 2019) |
250 |
|
Amount of Stationery to be posted to Income and Expenditure Account |
5,150 |
(b)
|
Statement of Stationery Consumed at the end of March 31, 2019 |
|
|
Particulars |
Amount (₹) |
|
Payment made for Stationery during the year ended 31st March, 2019 |
5,400 |
|
Add: Opening Stock (as on April 01, 2018) |
1,500 |
|
Less: Closing stock (as on March 31, 2019) |
250 |
|
Amount of Stationery to be posted to Income and Expenditure Account |
6,650 |
(c)
|
Statement of Stationery Consumed at the end of March 31, 2019 |
|
|
Particulars |
Amount (₹) |
|
Amount paid for Stationery during the year ended 31st March, 2019 |
5,400 |
|
Add: Opening Stock (as on April 01, 2018) |
1,500 |
|
Less: Closing stock (as on March 31, 2019) |
250 |
|
Less: Creditors for Stationery in the beginning (April 01, 2018) |
1,000 |
|
Amount of Stationery to be posted to Income and Expenditure Account |
5,650 |
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From the following particulars, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2019:
| ₹ | ||
| (a) | Subscriptions in arrears on 31st March, 2018 | 500 |
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| (c) | Total Subscriptions received during the year ended 31st March, 2019 (including ₹ 400 for the year ended 31st March, 2018, ₹ 1,200 for the year ended 31st March, 2020 and ₹ 300 for the year ended 31st March, 2021) | 35,400 |
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31st March, 2019 (₹) |
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| Subscription in Advance | 13,000 | 11,000 |
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31st March, 2019 (₹) |
| Stock of Medicines | 1,75,750 | 1,44,650 |
| Creditors for Medicines | 15,06,900 | 18,20,700 |
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| ₹ | |
| Opening Stock of Medicines | 1,00,000 |
| Opening Creditors for Medicines | 90,000 |
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| Closing Creditors for Medicines | 1,30,000 |
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| ₹ | |
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| Creditors for Stationery on 1st April, 2018 | 20,000 |
| Advances paid for Stationery carried forward from the year ended 31st March, 2018 | 2,000 |
| Amount paid for Stationery during the year ended 31st March, 2019 | 108,000 |
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| Creditors for Stationery on 31st March, 2019 | 13,000 |
| Advance paid for Stationery on 31st March, 2018 | 3,000 |
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| ₹ | |
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