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

Amount paid for the Stationary during the year 5000
Stock of Stationary at the beginning of the year 600
Stock of Stationary at the end of the year 750

Option 1: Rs. 4,850

Option 2: Rs. 5,600

Option 3: Rs. 5,750

Option 4: Rs. 6,350


Team Careers360 13th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Rs. 4,850


Solution :

Amount paid for the Stationary during the year 5000
Add: Stock of Stationary at the beginning of the year 600
Less: Stock of Stationary at the end of the year 750
Amount recorded in Income and Expenditure A/c 4850

Hence, the correct option is 1.

 

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