Stock of medicines on 1.4.2022 were ₹10,000. Medicines purchased during the year is ₹10,000. Closing stock of medicines on 31-3-2023 are ₹6,000. Consumption of medicines debited to Income & Expenditure Account is.......
Answer & explanation
Correct answer: option 4
The correct answer is option 4- ₹14,000.
Medicine consumed = Opening stock + purchases - closing stock
= 10,000 + 10,000 - 6,000
= 14,000
This 14,000 is shown on the debit side of income and expenditure account.