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Fiscal Deficit

Calculate amo...

Question

Calculate amount of medicines consumed during the year ended 31st March, 2019: ₹

Opening Stock of Medicines 1,00,000

Opening Creditors for Medicines 90,000

Cash purchases of Medicines during the year 3,00,000

Closing Stock of Medicines 1,50,000

Closing Creditors for Medicines 1,30,000

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Solution

Statement of Medicines Consumed

for the year ending March 31, 2019

Particulars

Amount

Rs

Cash Purchases of medicines during the year

3,00,000

Add: Opening Stock of Medicines

1,00,000

Less: Closing Stock of Medicines

1,50,000

Add: Closing Creditors of Medicines

1,30,000

Less: Opening Creditors of Medicines

90,000

Amount of Medicines Consumed during the year 2018-19

2,90,000

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Similar questions

Q. Calculate amount of medicines consumed during the year ended 31st March, 2018: ₹
Opening Stock of Medicines 1,00,000
Opening Creditors for Medicines 90,000
Cash purchases of Medicines during the year 3,00,000
Closing Stock of Medicines 1,50,000
Closing Creditors for Medicines 1,30,000

Q. On the basis of information given below, calculate the amount of medicines to be debited to the Income and Expenditure Account of Good Health Hospital for the year ended 31st March, 2019:

Particulars	1st April, 2018 (₹)	31st March, 2019 (₹)
Stock of Medicines	1,75,750	1,44,650
Creditors for Medicines	15,06,900	18,20,700

Medicines purchased during the year ended 31st March, 2019 were ₹ 60,80,700.

Q. 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
(b)	Subscriptions received in advance on 31st March, 2018 for the year ended on 31st March, 2019	1,100
(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
(d)	Subscriptions outstanding for year ended 31st March, 2019	400

Subscriptions received during the year ended 31st March , 2019 are:	₹	₹
For the year ended 31st March, 2018	1,600
For the year ended 31st March, 2019	84,400
For the year ended 31st March, 2020	3,200	89,200

There are 450 members, each paying an annual subscription of ₹ 200; ₹ 1,800 were in arrears for the year ended 31st March, 2018.
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2019.

Q. 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	1,500
	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

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