Calculate the amount of sports material to be transferred to income and expenditure account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31March 2018

Calculate the amount of sports material to be transferred to income and expenditure account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31March 2018 of Raman Bhalla Sports Club, I ,udhiana, for the year ended 3 1 't March, 2018•.- Particulars Amount i. Sports Material sold during the year (Book Value 56,000 50,000) ii. Amount aid to creditors fors orts material iii. Cash urchase Ofs orts material iv. v. vi. vii. S rts material as on 31.3.17 S rts Material as on 31.3.18 Creditors fors orts material as on 31.3.17 Creditors fors orts material as on 31.3.18 91 ,000 40,000 50,000 55,000 37 ,ooo 45,000

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  • -1
Cost of materials consumed is : 
Opening stock + purchases + amount  paid for the current year - closing stock 
50,000 + 40,000 + 91,000 - 37000 +45,000 - 55,000
= 1,34,000
  • -10
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