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

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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:

Particulars1st April, 2018
(Rs.)		31st March, 2019
(Rs.)
Stock of Medicines1,75,7501,44,650
Creditors for Medicines15,06,90018,20,700

Medicines purchased during the year ended 31st March, 2019 were ​​₹ 60,80,700.




Statement of Medicine Consumed 
during the year ended 31st March, 2019

Particulars Amount (Rs.)
Medicine Purchased during the year 2018-1960,80,700
Add: Stock in the beginning (as on April 01, 2018)1,75,750
Less: Stock at the end (as on March 31, 2019)(1,44,650)
Medicine to be debited to Income and Expenditure Account 61,11,800

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



Location: India

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