Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Amount paid for stationery during 2021-22 is ₹23,000.

 Details

 1.4.21

  31.3.22  

 Stock of Stationery

 ₹ 4,000 

 ₹ 3,000 

 Creditors for Stationery 

 ₹ 9,000

 ₹ 2,500

The Amount of stationery consumed for the year 2021-22, as per the above said particulars is:

Options:

₹ 14,000

₹ 16,500

₹ 20,500

₹ 17,500

Correct Answer:

₹ 17,500

Explanation:

The correct answer is Option (4) - ₹ 17,500.

Payment made for the purchase of stationery                         = 23,000
Less: Creditors in the beginning                                            = 9,000
Payment made for the year 2021-22                              = 14,000
Add: creditors at the end                                                      =  2,500
Stationery Purchased for the year 2021-22                    =  16,500
Add: Stock in the beginning                                                  = 4,000  
Stationery Available for consumption during 2021-22   = 20,500
Less: Stock at the end                                                          = 3,000
Stationery Consumed during 2021-22                              =  17,500