In extract of Income and Expenditure Account for the year ending 2008 is shown below:
|
Rs |
|
|
(i) Expenditures stationery as per Income and Expenditure Account for 2008 |
75,000 |
|
(ii) Stock of stationery on Jan 1, 2008 |
15,000 |
|
(iii) Creditors for stationery on Jan 1, 2008 |
30,000 |
|
(iv) Creditors for stationery on Dec 31, 2008 |
12,000 |
|
(v) Advance payments for stationery in 2008 |
2,500 |
|
(vi) Stock of stationery on Dec 31, 2008 |
5,500 |
|
(vii) Advance payments for stationery on Jan 1, 2008 |
1,000 |
Calculate amount spent on stationeries to be included in Receipts and Payments Account for the year ending on Dec 31, 2008.