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- 2019 - Stock of Stationery as at 1st April- 2018 1c - Creditors for Stationery as at 1st April- 2018 12-000 Amount paid for Stationery during the year ended 31st March- 2019 25-600 Stock of Stationery as at 31st March- 2019 1-40-000 Creditors for Stationery as at 31st March-2019 23-200

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Computation of Income Tax

On the basis ...

Question

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, 2019:

₹

Stock of Stationery as at 1st April, 2018 12,000

Creditors for Stationery as at 1st April, 2018 25,600

Amount paid for Stationery during the year ended 31st March, 2019 1,40,000

Stock of Stationery as at 31st March, 2019 23,200

Creditors for Stationery as at 31st March,2019 24,000

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Solution

Statement of Stationery Consumed

for the year ended March 31, 2019

Particulars

Amount

(₹)

Amount paid for Stationery during the year 2018-19

1,40,000

Add: Opening Stock (as on April 01, 2018)

12,000

Less: Closing Stock (as on March 31, 2019)

(23,200)

Add: Creditors at the end (as on March 31, 2019)

24,000

Less: Creditors in the beginning (as on April 01, 2018)

(25,600)

Amount of Stationery be shown in Income and Expenditure Account

1,27,200

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Similar questions

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

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

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. 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 Receipts and Payments Account and additional information relating to the star Cricket Club, prepare Income and Expenditure Account for the year ended 31st March, 2019 and Balance Sheet as at that date:

RECEIPTS AND PAYMENTS ACCOUNT
Dr.					Cr.
Receipts		(₹)	Payments		(₹)
To Balance b/d:			By Upkeep of Fields		20,000
Cash in Hand 1st April, 2018	10,000		By Tournament Expenses		7,000
Cash at Bank as per Pass Book	20,000	30,000	By Rates and Insurance		2,000
To Members' Subscriptions		50,000	By Telephone		500
To Admission Fee		3,000	By Stationery		1,000
To Sale of Old Bats, etc.		500	By General Charges		500
To Hire of Ground		3,000	By Secretary's Honorarium		2,000
To Subscriptions for Tournament		10,000	By Bats, Balls, etc.		7,000
To Donations		75,000	By Balance c/d:
To Legacy Donations		25,000	Cash in Hand 31st March, 2019	1,00,000
			Cash at Bank as per Pass Book	56,500	1,56,500
		1,96,500			1,96,500

Assets on 1st April, 2018:		₹
	Stock of Bats and Balls	15,000
	Stationery	2,000
	Subscriptions Due	5,000

Subscriptions due on 31st March, 2019 amounted to ₹ 7,500. Write off 50% of Bats, Balls (not considering sale) and 25% of Stationery.

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	₹
Stock of Stationery as at 1st April, 2018	12,000
Creditors for Stationery as at 1st April, 2018	25,600
Amount paid for Stationery during the year ended 31st March, 2019	1,40,000
Stock of Stationery as at 31st March, 2019	23,200
Creditors for Stationery as at 31st March,2019	24,000

Statement of Stationery Consumed for the year ended March 31, 2019
Particulars	Amount (₹)
Amount paid for Stationery during the year 2018-19	1,40,000
Add: Opening Stock (as on April 01, 2018)	12,000
Less: Closing Stock (as on March 31, 2019)	(23,200)
Add: Creditors at the end (as on March 31, 2019)	24,000
Less: Creditors in the beginning (as on April 01, 2018)	(25,600)
Amount of Stationery be shown in Income and Expenditure Account	1,27,200