Calculate the amount of sports material consumed for the year ended 31st March 2016.
|
Particulars |
Amount (₹) |
|
Stock of sports material on 1.4.2015 |
7,500 |
|
Creditor for sports material on 1.4.2015 |
2,000 |
|
Stock of sports material on 31.3.2016 |
6,200 |
|
Amount paid for sports material during the year 2015-16 |
17,000 |
|
Advance paid for sports material as on 31.3.2016 |
3,500 |
|
Creditor for sports material on 31.3 .2016
|
1,200 |
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → ₹14,000
Sports material consumed = Opening stock + Purchases of the year − Closing stock. The purchases are found from the amount paid by adjusting creditors and the advance.
Purchases for 2015-16:
Amount paid during the year = ₹17,000
Less: Creditors at the beginning (paid for last year’s supplies) = ₹2,000
Add: Creditors at the end (this year’s supplies not yet paid) = ₹1,200
Less: Advance paid at the end (material not yet received) = ₹3,500
Purchases = ₹12,700
Sports material consumed:
= ₹7,500 + ₹12,700 − ₹6,200
= ₹14,000
Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.
NCERT (Pre-rationalised edition):
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