Calculate amount of medicines consumed during the year ended 31st March, 2020: Opening Stock of Medicines 1,00,000 Opening - Accountancy - Accounting for Not-for-Profit Organisation

Question

Calculate amount of medicines consumed during the year ended 31st
March, 2020: ?
Opening Stock of Medicines 1,00,000
Opening Creditors for Medicines 90,000
Cash purchases of Medicines during the year 3,00,000
Closing Stock of Medicines 1,50,000
Closing Creditors for Medicines 1,30,000
1 How much amount of creditor of Medicine during the current
Period?
2 How much amount of Medicines Consumed during the year 2019-20
3 How much amount of creditor of Medicine during the last year?
4 What is the difference amount of Closing Creditor & Opening
Creditors?
5 What is the difference amount of Closing Stock & Opening
Stock of Medicine?

Simarjeet Singh · Accepted Answer

Dear Student,

Please find below the link of the study material which contains the
solution of the question asked:

https://www meritnation
com/cbse-class-12-commerce/accountancy/ts-grewal-vol
-ii-2018/company-accounts-financial-statements-of-not-for-profit-organizations/textbook-solutions/59_17_3387_24449_7
55_137322

Regards