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58.Calculate what amount will be posted to Income and Expenditure account for the year ending 31st March 2016; Amount paid for stationery during the year 10000; stock of a stationary in hands at the beginning and at the end of the year 1200 and 1,500 respectively. (2 Points)?
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58.Calculate what amount will be posted to Income and Expenditure acco...
Calculation of Amount Posted to Income and Expenditure Account:
To calculate the amount that will be posted to the Income and Expenditure account for the year ending 31st March 2016, we need to consider the following factors:
1. Amount paid for stationery during the year:
The amount paid for stationery during the year is given as $10,000.
2. Stock of stationery at the beginning and end of the year:
The stock of stationery at the beginning of the year is given as 1,200 units, and at the end of the year, it is given as 1,500 units.
3. Cost of stationery consumed during the year:
To calculate the cost of stationery consumed during the year, we can use the following formula:
Cost of Stationery Consumed = Opening Stock + Purchases - Closing Stock
Substituting the given values, we get:
Cost of Stationery Consumed = 1,200 + 10,000 - 1,500
= $9,700
4. Amount posted to Income and Expenditure account:
The amount posted to the Income and Expenditure account is the cost of stationery consumed during the year. Therefore, the amount posted to the Income and Expenditure account for the year ending 31st March 2016 is $9,700.
Summary:
- Amount paid for stationery during the year: $10,000
- Stock of stationery at the beginning of the year: 1,200 units
- Stock of stationery at the end of the year: 1,500 units
- Cost of stationery consumed during the year: $9,700
- Amount posted to Income and Expenditure account: $9,700
To calculate the amount that will be posted to the Income and Expenditure account for the year ending 31st March 2016, we need to consider the following factors:
1. Amount paid for stationery during the year:
The amount paid for stationery during the year is given as $10,000.
2. Stock of stationery at the beginning and end of the year:
The stock of stationery at the beginning of the year is given as 1,200 units, and at the end of the year, it is given as 1,500 units.
3. Cost of stationery consumed during the year:
To calculate the cost of stationery consumed during the year, we can use the following formula:
Cost of Stationery Consumed = Opening Stock + Purchases - Closing Stock
Substituting the given values, we get:
Cost of Stationery Consumed = 1,200 + 10,000 - 1,500
= $9,700
4. Amount posted to Income and Expenditure account:
The amount posted to the Income and Expenditure account is the cost of stationery consumed during the year. Therefore, the amount posted to the Income and Expenditure account for the year ending 31st March 2016 is $9,700.
Summary:
- Amount paid for stationery during the year: $10,000
- Stock of stationery at the beginning of the year: 1,200 units
- Stock of stationery at the end of the year: 1,500 units
- Cost of stationery consumed during the year: $9,700
- Amount posted to Income and Expenditure account: $9,700
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58.Calculate what amount will be posted to Income and Expenditure account for the year ending 31st March 2016; Amount paid for stationery during the year 10000; stock of a stationary in hands at the beginning and at the end of the year 1200 and 1,500 respectively. (2 Points)?
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58.Calculate what amount will be posted to Income and Expenditure account for the year ending 31st March 2016; Amount paid for stationery during the year 10000; stock of a stationary in hands at the beginning and at the end of the year 1200 and 1,500 respectively. (2 Points)? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about 58.Calculate what amount will be posted to Income and Expenditure account for the year ending 31st March 2016; Amount paid for stationery during the year 10000; stock of a stationary in hands at the beginning and at the end of the year 1200 and 1,500 respectively. (2 Points)? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 58.Calculate what amount will be posted to Income and Expenditure account for the year ending 31st March 2016; Amount paid for stationery during the year 10000; stock of a stationary in hands at the beginning and at the end of the year 1200 and 1,500 respectively. (2 Points)?.
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