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Question : On the basis of the information given below, calculate the amount of stationery to be debited to Income and Expenditure Account of Good Health Sports Club for the year ended 31st March, 2020:                   
                                                                          April 1, 2019          March 31, 2020

Stock of stationery                                                80,000                      60,000

Creditors for stationery                                          90,000                  1,10,000

Stationery purchased during the year ended 31st March 2020 was Rs 4,70,000.

Option 1: Rs.5,10,000

Option 2: Rs.5,00,000

Option 3: Rs.4,90,000

Option 4: Rs.5,20,000


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Rs.4,90,000


Solution : Stationery purchased during the year ended = Rs 4,70,000
(+) Opening stock                                           = Rs.80,000
(-) Closing stock                                             = (Rs.60,000)
Amount of stationery consumed                    = Rs.4,90,000
Hence, the correct option is 3.

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