please check the answer
Kalyan, in such type of questions we are required to prepare Creditors for Stationery Account in order to ascertain the amount of credit purchases during the year. After obtaining the amount of credit purchases we will add the amount of cash purchases in it, in order to obtain the total purchases made during the year. After this stationery consumed during the year can be ascertained using the following formula.
It has already been taught to you during the live classes. Please refer to the recording of 'Donations, Legacies & Government Aid, Sale of Old Assets and Consumable Goods' dated January 16, 2016.
Such type of questions with detailed explanation are already covered in our study material, please refer to the following link.
https://www.meritnation.com/cbse/class11-commerce/studymaterial/accountancy/financial-accounting-part-ii/accounting-for-not-for-profit-organisation/395_2758_14081#slide9_sale-of-old-assets-used-sports-material-and-old-newspaper-honorarium-consumable-goods
It has already been taught to you during the live classes. Please refer to the recording of 'Donations, Legacies & Government Aid, Sale of Old Assets and Consumable Goods' dated January 16, 2016.
Such type of questions with detailed explanation are already covered in our study material, please refer to the following link.
https://www.meritnation.com/cbse/class11-commerce/studymaterial/accountancy/financial-accounting-part-ii/accounting-for-not-for-profit-organisation/395_2758_14081#slide9_sale-of-old-assets-used-sports-material-and-old-newspaper-honorarium-consumable-goods