Question : Calculate the amount to be shown in the Income and Expenditure Account in the following case:
| Stock of sports Materials on 1-4-2021 | 6000 |
| Amount paid for sports materials during the year | 40000 |
| Stock of sports Materials on 31-3-2022 | 9600 |
Option 1: Rs. 37,000
Option 2: Rs. 46,000
Option 3: Rs. 36,400
Option 4: Rs. 49,600
Correct Answer: Rs. 36,400
Solution :
| Amount paid for sports materials during the year | 40000 |
| Add: Stock of sports Materials on 1-4-2021 | 6000 |
| Less: Stock of sports Materials on 31-3-2022 | 9600 |
| Amount recorded in Income and Expenditure A/c | 36400 |
Hence, the correct option is 3.
Related Questions
Question : On the basis of the following information, calculate the amount of sports materials to be shown in the Income and Expenditure Account for the year ended 31st March 2022:
| Amount paid for Sports material purchased during 2021-22 | 100000 |
| Creditors for Sports material on 1-4-2021 | 10000 |
| Creditors for Sports material on 31-3-2022 | 5000 |
| Stock of Sports material on 1-4-2021 | 25000 |
| Stock of Sports material on 31-3-2022 | 20000 |
Option 1: Rs. 1,10,000
Option 2: Rs. 95,000
Option 3: Rs. 1,05,000
Option 4: Rs. 1,00,000
Question : How much amount is to be shown in the Income and Expenditure Account in the following case:
| Amount paid for sports materials | 10000 |
| Creditors at the end of the year | 900 |
| Closing Stock of sports material | 1000 |
Option 1: Rs. 9,900
Option 2: Rs. 11,000
Option 3: Rs. 10,900
Option 4: Rs. 10,100
Question : How much amount will be shown in the Income and Expenditure Account in the following case:
| Amount paid for stationary purchased during 2021-22 | 80000 |
| Creditors for Stationary on 1-4-2021 | 8000 |
| Creditors for Stationary on 31-3-2022 | 12400 |
| Stock of Stationary on 1-4-2021 | 10800 |
| Stock of Stationary on 31-3-2022 | 10000 |
Option 1: Rs. 84,400
Option 2: Rs. 84,000
Option 3: Rs. 86,000
Option 4: Rs. 85,200
Question : How much amount will be shown in the Income and Expenditure Account in the following case:
| Amount paid for stationary purchased during 2021-22 | 17000 |
| Creditors for Stationary on 1-4-2021 | 1500 |
| Creditors for Stationary on 31-3-2022 | 2100 |
| Stock of Stationary on 1-4-2021 | 1250 |
| Stock of Stationary on 31-3-2022 | 1400 |
Option 1: Rs. 17,450
Option 2: Rs. 17,600
Option 3: Rs. 17,000
Option 4: Rs. 18,000
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
