1.

Calculate the amount of sports material to be transferred to income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March, 2018: Particulars (₹) (i) Sports material sold during the year (Book Value ₹ 50,000) 56,000 (ii) Amount paid to creditors for sports materials 91,000 (iii) Cash purchase of sports material 40,000 (iv) Sports material as on 31st March, 2017 50,000 (v) Sports material as on 31st March, 2018 55,000 (vi) Creditors for sports material as on 31st March, 2017 37,000 (vii) Creditors for sports material as on 31st March, 2018 45,000

Answer» Calculate the amount of sports material to be transferred to income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March, 2018:


















































Particulars (₹)
(i) Sports material sold during the year (Book Value ₹ 50,000) 56,000
(ii) Amount paid to creditors for sports materials 91,000
(iii) Cash purchase of sports material 40,000
(iv) Sports material as on 31st March, 2017 50,000
(v) Sports material as on 31st March, 2018 55,000
(vi) Creditors for sports material as on 31st March, 2017 37,000
(vii) Creditors for sports material as on 31st March, 2018 45,000


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