(Calculation of stationery consumed during the year) With the above information, calculate the amount of stationery consumed during the year and show its presentation in final accounts of a concern

1. (Calculation of stationery consumed during the year) With the above information, calculate the amount of stationery consumed during the year and show its presentation in final accounts of a concern


 Balance Sheet as on 01.04.2018

Liabilities 

Amount 

Amount 

Assets 

Amount 

Amount 

 

 

 

Stock of Stationery 

 

400 

 

 

 

 

 

 



Receipts and Payments account for the year ending 31.03.2019

Dr. 

Cr. 

Receipts 

Amount 

Amount 

Payments 

Amount 

Amount 

 

 

 

By Stationery Purchased 

 

6,300 

 

 

 

 

 

 


Adjustments:
1. ₹1,000 Outstanding for stationery bill.
2. Stock of stationery as on 31.03.2019 was valued at ₹1,800.

With the above information, calculate the amount of stationery consumed during the year and show its presentation in final accounts of a concern.

Solution:

Income and Expenditure account for the year ending 31.03.2019

Expenditure 

Amount 

Amount 

Income 

Amount 

Amount 

To Stationery  

400 

 

 

 

 

(+) Purchased stationery  

6,300 

 

 

 

 

(+) Outstanding stationery bill 

1,000 

 

 

 

 

 

7,700 

 

 

 

 

(-) Closing stock of stationery 

1,800 

5,900 

 

 

 



Explanation: 

1. ₹1,000 Outstanding for stationery bill: The Statement means the last year purchased stationery bill is due not paid still. 

2. Stock of stationery as on 31.03.2019 was valued at ₹1,800: This is a Closing Stock of stationery because date 31st March is given, the closing month of financial year.

Opening stock of stationery is ₹400/- (taken from the last year Balance sheet)

Whenever there is stocks, all the expenses or the additional purchase of stocks are to be Add to it's account. Therefore we added Stationery Purchased and Outstanding stationery bill.

After adding all expense and additional purchase subtract the closing stock as on end of the year.  The Value you get is the stationery consumed during the year.

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