Question : Calculate the amount to be debited to the Income and Expenditure Account for the year ending 31st March 2021:

Option 1: Rs. 4,850

Option 2: Rs. 5,600

Option 3: Rs. 5,750

Option 4: Rs. 6,350

Question : Calculate the amount of medicines consumed during the year ended 31st March, 2019:

Opening Stock of Medicines Rs. 50,000
Closing Stock of Medicines Rs. 45,000 more than Opening Stock
Amount paid for medicines during the year Rs. 2,00,000
Opening Creditors Rs. 20,000
Closing Creditors 50% of Opening Creditors

Option 1: Rs 1,45,000

Option 2: Rs 1,35,000

Option 3: Rs 1,55,000

Option 4: Rs 2,05,000

Question : Amount debited to Income and Expenditure Account in respect of stationery was Rs 30,000. Following information is provided to you.
1st April 2018, opening stock of stationery Rs 7,000 and closing stock of stationery Rs 6,000. Opening balance of creditors of stationery Rs 10,000 and closing balance of creditors of stationery Rs 8,200. What was the amount paid for stationery during the year.

Option 1: Rs 29,000

Option 2: Rs 30,800

Option 3: Rs 27,200

Option 4: Rs 40,800

Question : Municipal Taxes paid during the year Rs 4,000. Municipal taxes amount to 4,000 per year and are paid upto 30th June every year. Calculate the amount of the subscription debited to the Income and Expenditure Account and also calculate the amount of subscription received in advance last year and also calculate the amount of subscription received in advance at the end of the year.

Option 1: Rs 4,000 debited to Income and Expenditure account and advance paid at the beginning of the year Rs 1,000 and Rs 1,000 paid in advance at the end of the year. 

Option 2: Rs 3,000 debited to Income and Expenditure account and Rs 1,000 paid in advance at the end of the year.

Option 3: Rs 4,000 debited to Income and Expenditure Account and advance at the beginning of the year Rs 500 and Rs 500 at the end of the year.

Option 4: Rs 5,000 debited to Income and Expenditure.

Question :

Amount paid for sports material during the year is Rs.20,000, Stock of sports material at the beginning and end of the year are Rs.3,300 and Rs.2,900 respectively. Creditors for sports material at the beginning and end of the year are Rs.5,000 and Rs.4,000 respectively. The amount to be shown in Income and Expenditure A/c will be:

Option 1: Rs.20,400

Option 2: Rs.19,400

Option 3: Rs.18,600

Option 4: Rs.22,600