The Receipts and Payments Account of Lead Sports Club showed payment for sports materials as Rs. 46,000 for the year ended 31st March 2022.
Additional Information provided is as follows :
| Details | 31st March 2021 | 31st March 2022 |
|---|---|---|
| Stock of sports Materials | Rs. 8,000 | Rs. 6,000 |
| Creditors | Rs. 18,000 | Rs. 5,000 |
Calculate the amount of Sports Materials consumed during the year ended 31st March 2022.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs. 35,000
The sports materials consumed are purchases for the year + opening stock − closing stock. The payment of Rs. 46,000 must first be changed into the purchases of this year.
A part of the payment, Rs. 18,000, settles the opening creditors for last year's purchases, so it is deducted. The closing creditors of Rs. 5,000 are this year's purchases not yet paid for, so they are added.
Purchases for the year = Rs. 46,000 − Rs. 18,000 + Rs. 5,000 = Rs. 33,000
Sports materials consumed = Rs. 8,000 + Rs. 33,000 − Rs. 6,000 = Rs. 35,000
Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), and it is also out of the CUET 2026 syllabus.
NCERT (Pre-rationalised edition):
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