Calculate the amount of stationery to be debited to the Income and Expenditure A/c of Sports Club for the year ended 2022 from the following information.

Stationery purchased during the year ended 31st March,2022 was ₹4,70,000.

₹4,90,000

The correct answer is option 2- ₹4,90,000.

Stationery consumed = Opening stock + Purchase of stationery - Closing stock of stationery
                               = 80,000 + 4,70,000 - 60,000
                               = ₹4,90,000

* Stationery purchased during the year is given which means creditors are already adjusted in it so there is no treatment of creditors.