Calculate amount to be posted to the Income and Expenditure Account for the year ended 31st March, 2019 -Income and Expenditure

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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, 20181500
 Creditors for Stationery on 1st April, 20181,000
 Amount paid for Stationery during the year5,400
 Stock of Stationery on 31st March, 2019250



(a)
Statement of Stationery Consumed 
at the end of March 31, 2019

Particulars Amount (Rs.)
Amount paid for Stationery during the year ended 31st March, 20195,400
Less: Closing Stock (as on March 31, 2019)250
Amount of Stationery to be posted to Income and Expenditure Account 5,150
(b)

Statement of Stationery Consumed 
at the end of March 31, 2019

Particulars Amount (Rs.)
Payment made for Stationery during the year ended 31st March, 20195,400
Add: Opening Stock (as on April 01, 2018)1,500
Less: Closing stock (as on March 31, 2019)250
Amount of Stationery to be posted to Income and Expenditure Account 6,650
(c)

Statement of Stationery Consumed 
at the end of March 31, 2019

Particulars Amount (Rs.)
Amount paid for Stationery during the year ended 31st March, 20195,400
Add: Opening Stock (as on April 01, 2018)1,500
Less: Closing stock (as on March 31, 2019)250
Less: Creditors for Stationery in the beginning (April 01, 2018)1,000
Amount of Stationery to be posted to Income and Expenditure Account 5,650

Chapter-1 Financial Statements of Not for Profit Organisations-TS Grewal



Location: India

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