question_answer

Calculate the amount of sports material to be debited to income and expenditure account for the year ended 31st March, 2017 on the basis of the following information:

Particulars	1st April, 2016	31st March, 2017
Stock of sports material	4,500	3,840
Creditors for sports material	1,200	1,560

Amount paid for sports material during the year was Rs. 11,400.

Answer:

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

Calculation of sports material consumed during the year

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

\[\therefore \]The amount 6f sports material to be debited to income and expenditure account for the year ended 31st March, 2017 is Rs. 12,420.