Question

What amount of sports material will be posted to Income and Expenditure Account for the year ended March 31, 2006 as expenditure?
Amt.(Rs.)
Stock of sports material as on April 1, 2011 7,500
Creditors for sports material as on April 1, 2011 2,000
Stock of sports material as on March 31, 2012 6,200
Amount paid for sports material during the year 2011-12 17,000
Advance paid for sports material as on March 31, 2012 3,500
Creditors for sports material as on March 31,2012 1,200

Answer 1

Details

Amt.(Rs.)

Amount Paid for sports material during the year 2011-12 (+) Creditors for sports material Purchases 31.03.2012 (-) Creditors for medicines Purchases 1.04.2011 (-) Advance Paid for sports material on 31.03.2012 (+) Opening stock of sports material as on 1.4.2011 (-) Closing stock om Medicine as on 31.03.2012 Amount of sports material consumed during the year to be posted to income and expenditure account

17,000 1,200 18,200 2,000 3,500 12,700 7,500 20,200 6,200 14,000