Particulars | 1st April, 2016 | 31st March, 2017 |
Stock of sports material | 4,500 | 3,840 |
Creditors for sports material | 1,200 | 1,560 |
Answer:
Calculation of sports material consumed during the year Calculation of sports material purchased during the year Amt (Rs.) Total payment made during the year for sports material 11,400 (-) Creditors at beginning (1,200) 10,200 (+) Creditors at end 1,560 Sports material purchased during the year 11,760
\[\therefore \]The amount 6f sports material to be debited to income and expenditure account for the year ended 31st March, 2017 is Rs. 12,420. Opening stock of sports material 4,500 (+) Purchase during the year 11,760 16,260 (-) Closing stock of sports material (3,840) Sports material consumed during the year 12,420
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