Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

The following information is given about a Non profit organisation for the year ended 31st March,2019.
Creditors for stationery on 1st April,2018 =₹4600
Creditors for stationery on 31st march,2019 =₹11800
Opening stock of stationery = ₹15000
Closing stock of stationery = ₹30400
During the year ₹56800 is paid to creditors.
Stationery purchased in cash during the year was 20% of the total purchase of stationery.

What amount of stationery will be debited to the income and expenditure account?

Options:

₹64600

₹64900

₹62800

₹62600

Correct Answer:

₹64600

Explanation:

Opening stock of stationery = 15000
Add: Total Purchases            = 80000
Less: Closing stock of stationery = 30400
Stationery consumed = AMOUNT ₹64600