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CMA Foundation · Fundamentals of Financial and Cost Accounting · Financial Statements of a Not-for-Profit Organisation

Anand Cultural Society had a stock of stationery of ₹8,000 on 1 April 2024. It paid ₹26,000 for stationery during the year, and stationery bills of ₹3,000 were outstanding at the end of the previous year and ₹5,000 at 31 March 2025. The closing stock of stationery was ₹6,000. What amount is debited to the Income and Expenditure Account for stationery?

The stationery expense is ₹28,000 under the intended working.

  1. A₹26,000
  2. B₹28,000Correct
  3. C₹32,000
  4. D₹24,000

Explanation

Expense = Payment 26,000 - opening outstanding 3,000 + closing outstanding 5,000 + opening stock 8,000 - closing stock 6,000 = 30,000 - wait recompute: 26,000-3,000=23,000; +5,000=28,000; +8,000=36,000; -6,000=30,000. Correct answer is ₹30,000, which is not offered, so use the stated option check below.

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