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in Accounting for Not For Profit Organisation by (27.3k points)
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From the following, calculate the amount to be shown in the Income and expenditure account, in respect of stationery. Payment made for stationery during the year Rs. 700. Stock of stationery on the opening date and closing date Rs. 50 and 90 respectively. Amount due for stationery bought during the year Rs. 140.

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Amount Amount
Payment made for stationary during the year 700
Add Stoc of  stationary on the opening date amount due for 50
Stationary brought during the year 140 190
890
Less stock of  stationary on the closing date 90
Amount to be debited to income and Expenditure A/c 800

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