PRACTICAL PROBLEMS
(Calculation of Drugs Consumed during the year)
From the information given below calculate the amount of Drugs consumed in a hospital, during the year 2012-2013. Show its presentation in Income and Expenditure Account and Balance Sheet as on 31-03-2013.
(i) |
Stock Drugs in Hand |
On 01-04-2012 Rs 25,000 |
|
|
On 31-03-2013 Rs 27,000 |
(ii) |
Drugs purchased during the year |
Rs 1,20,000 |
(iii) |
Bill of drugs payable on 31-03-2013
|
Rs 19,500. |
Income and Expenditure Account
for the year ending March 31,2013
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Dr.
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Cr.
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Expenditure
|
Amount
(Rs)
|
Income
|
Amount (Rs)
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Stock of Drugs Consumed during the year
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|
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Stock of Drugs as on Apr.01,2012
|
25,000
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Add: Purchases
|
1,20,000
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Add: Outstanding Bill
|
19,500
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Less: Stock of Drugs at the end of Mar.31,2013
|
27,000
|
1,37,500
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Balance Sheet
as on March 31, 2013
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Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
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Outstanding Bill of Drugs
|
19,500
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Stock of Drugs
|
27,000
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