Question

The details of stationery for a manufacturing unit is given below: 

• Opening stock of stationery 500 
• Stationery purchase 1,200 
• Closing stock of stationery 700 
• Determine the amount of stationery to be debited in the Prot and Loss account.

Answer 1

Opening stock of stationery – 500 

(+) Purchases – 1,200 – 1,700

(-) Closing stock of stationery – 700 

Amount to be debited – 1,000