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Question

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, 2018:

Particulars
1 st April, 2017
(₹)
31 st March, 2018
(₹)

Stock of Medicines
Creditors for Medicines

1,75,750
15,06,900

1,44,650
18,20,700

Medicines purchased during the year ended 31st March, 2018 were ​​₹ 60,80,700 .




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Solution

Statement of Medicine Consumed

during the year 2015-16

Particulars

Amount

(Rs)

Medicine Purchased during the year 2015-16

60,80,700

Add: Stock in the beginning (as on April 01, 2015)

1,75,750

Less: Stock at the end (as on March 31, 2016)

(1,44,650)

Medicine to be debited to Income and Expenditure Account

61,11,800


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