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- 2018-1-c- Particulars 1 st April- 2017 - 31 st March- 2018 - Stock of Medicines Creditors for Medicines 1-75-750 15-06-900 1-44-650 Medicines purchased during the year ended 31st March- 2018 were - 60-80-700-

Statement of Medicine Consumed during the year 2015 16 Particulars nbsp; Amount (Rs) Medicin ...

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Standard XII

Accountancy

Stationary/ Food Supplies

On the basis ...

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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Similar questions

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. On the basis of the following information, calculate amount that will appear against the term ' Stationery Used' in the Income and Expenditure Account for the year ended 31st March , 2018:

	₹
Stock of Stationery as at 1st April, 2017	12,000
Creditors for Stationery as at 1st April, 2017	25,600
Amount paid for Stationery during the year ended 31st March,2018	1,40,000
Stock of Stationery as at 31st March,2018	23,200
Creditors for Stationery as at 31st March,2018	24,000

From the following information, calculate the amount that will be shown against Stationery Account in Income and Expenditure Account for the year ended 31st March, 2018.

$\begin{matrix} Particulars & 01 - 04 - 2017 & 31 - 03 - 2018 Creditors for Stationery & 5, 000 & 12, 000 Stock of Stationery & 17, 000 & 32, 000 \end{matrix}$

During the year ended 31st March, 2018, payment made to creditors amounted to Rs 60,000. Stationery purchased during the year was Rs 1,00,000 (out of which 30 $%$ is cash purchases).

Q. Subscriptions received during the year ended 31st March , 2018 are:

₹ ₹
For the year ended 31st March, 2017 1,600
For the year ended 31st March,2018 84,400
For the year ended 31st March,2019 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, 2017.
calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2018.

Q. Calculate amount to be posted to the Income and Expenditure Account for the year ended 31st March, 2018:
(i) Amount paid for stationery during the year ended 31st March , 2018

—

₹5,400; Stock of Stationery in Hand on 31st March, 2018

—

₹250.
(ii) Stock of Stationery in Hand on 1st April, 2017

—

₹ 1,500; Payment made for Stationery during the year ended 31st March, 2018

—

₹5,400; Stock of Stationery in Hand on 31st March, 2018

—

₹250.
₹
(iii) Stock of Stationery on 1st April, 2017 1,500
Creditors for Stationery on 1st April, 2017 1,000
Amount paid for Stationery during the year 5,400
Stock of Stationery on 31st March, 2018 250

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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

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