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How much amount will be shown in Income and Expenditure Account in the following case
During 2019-20 purchases of Stationery was Rs 60,000.
opening Stock of stationry Rs 1,100 & stock of stationary at end is Rs 1,000
Rs 57,800
Rs 59,900
Rs 62,000
Rs 60,100
- The amount shown in the Income and Expenditure account for stationery is based on the actual expense incurred during the year.
Stationary consumed duering the year = opening of stationary + purchases of stationary - closing stock of stationary
= 60,000 + 1,100 - 1,000 = 60,100
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