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Question : How much amount will be shown in the Income and Expenditure Account in the following case:

Creditors for the stationary on 1-4-2021 8000
Amount paid for stationary purchased during the year 2021-22 90000
Creditors for the stationary on 31-3-2022 13000

Option 1: Rs. 1,03,000

Option 2: Rs. 95,000

Option 3: Rs. 98,000

Option 4: Rs. 85,000


Team Careers360 23rd Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs. 95,000


Solution :

Amount paid for stationary purchased during the year 2021-22 90000
Add: Creditors for the stationary on 31-3-2022 13000
Less: Creditors for the stationary on 1-4-2021 8000
Amount to be shown in Income and Expenditure Account 95000

Hence, the correct option is 2.

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