Question : On the basis of the information given below, calculate the amount of stationery to be debited to Income and Expenditure Account of Hindustan Club for the year ended 31st March, 2020: 01/04/2019 31/03/2020
Stock of stationery 50,000 40,000
Creditors for stationery 1,00,000 90,000
Stationery purchases on credit during the year ended 31st March 2020 were Rs 3,50,000.
Option 1: Rs 3,50,000
Option 2: Rs 4,90,000
Option 3: Rs 5,00,000
Option 4: Rs 6,50,0000
Correct Answer: Rs 3,50,000
Solution : Stationery credit purchases during the year = Rs 3,50,000 (+) Opening stock = Rs.50,000 (-) Closing stock = (Rs.40,000) (+) Closing creditors = Rs.90,000 (-) Opening creditors = (Rs.1,00,000) Amount of stationery consumed = Rs.3,50,000 Hence, the correct option is 1.
Question : Calculate the amount of stationery to be debited to the Income and Expenditure Account of Good Health Sports Club for the year ended 31st March, 2020:
Particulars
1st April, 2019 (Rs.)
31st March, 2020 (Rs.)
Stock of Stationery
40,000
30,000
Creditors for Stationery
45,000
55,000
Stationery purchased during the year ended 31st March, 2020 was Rs. 4,70,000.
Option 1: Rs 4,80,000
Option 3: Rs 4,70,000
Option 4: None of the above
Question : During the year ended 31st March, 2020, subscriptions received were Rs. 21,00,000. These subscriptions include Rs. 30,000 for the year ended 31st March, 2019 and Rs. 40,000 for the year ending 31st March, 2021. On 31st March, 2020, subscriptions due but not received were Rs. 50,000. The corresponding amount on 1st April, 2019 was Rs. 60,000. Determine the amount that should be credited to Income and Expenditure Account as subscriptions for the year ended 31st March, 2020.
Option 1: Rs 20,55,000
Option 2: Rs 20,50,000
Option 3: Rs 2,05,000
Option 4: Rs 20,35,000
Question : From the following information, determine the amount of subscriptions to be credited to Income and Expenditure account for the year ended 31st March 2018.
1. Subscription received during 2017-2018 Rs 6,00,000 (including Rs 25,000 for the year ended 31st March 2019 and Rs 15,000 for the year ended 31st March 2017).
2. Subscription due but not received on 31st March 2018 Rs 33,000.
3. Subscription outstanding for the year ended 31st March 2017 Rs 22,000.
Option 1: Rs 6,11,000
Option 2: Rs 5,46,000
Option 3: Rs 5,86,000
Option 4: Rs 5,00,000
Question : During the year ended 31st March 2020, subscriptions received were Rs. 31,00,000. These subscriptions include Rs. 60,000 for the year ending 31st March 2019 and Rs. 80,000 for the year ending 31st March 2021. On 31st March 2020, subscriptions due but not received were Rs. 1,00,000. The corresponding amount on 1st April 2019 was 1,20,000. Determine the amount that should be credited to the Income and Expenditure Account as subscriptions for the year ended 31st March 2020.
Option 1: Rs. 30,00,000
Option 2: Rs. 31,40,000
Option 3: Rs. 31,00,000
Option 4: Rs. 25,80,000
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