Question

Amount paid for stationery during 2022-23               ₹ 80,000

Creditors for Stationery on March, 31, 2023              ₹ 7,200

Stationery spoiled during the year 2022-23                ₹ 2,400

Stock of Stationery on March 31, 2023                       ₹ 8,000

How much amount of Stationery will be shown in the Income & Expenditure Account for the year ended on March 31, 2023 ?

A ₹ 72,000 Correct Answer Incorrect Answer
B ₹ 79,400 Correct Answer Incorrect Answer
C ₹ 76,800 Correct Answer Incorrect Answer
D ₹ 87,200 Correct Answer Incorrect Answer

Solution

Amount Paid to creditor            80,000 Closing Balance of creditors:    7,200 Purchased:                                87,200 Spoiled:(2400) Balance:                                       84,800 Closing stock:                              (8000) Amount to be shown in I&E        76,800

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