Purchases = Payment - Decrease in Creditors - Increase in Advance
= 3,70,000 - (25,000 - 17,000) - (18,000 - 11,000)
= 3,70,000 - 8,000 - 7,000 = 3,55,000.
Cost of Medicine Consumed = Opening Stock + Purchases - Closing Stock
= 62,000 + 3,55,000 - 54,000 = 3,63,000.
Note: This NPO-related question has been classified under Financial Statements / Nature-Structure as NPO accounting is not a listed subtopic.
Find out cost of medicine consumed during 2020-21. | Particulars | Amount (Rs.) | |-------------|--------------| | Payment to creditors of medicines…
CUET UG 2023 — Accountancy Financial Statements
2023mcqmedium
Find out cost of medicine consumed during 2020-21.
| Particulars | Amount (Rs.) |
|---|---|
| Payment to creditors of medicines | 3,70,000 |
| Creditors for medicines purchased on 1.04.2020 | 25,000 |
| Creditors for medicines purchased on 31.03.2021 | 17,000 |
| Stock of Medicines on 1.04.2020 | 62,000 |
| Stock of Medicines on 31.03.2021 | 54,000 |
| Advance to suppliers on 1.04.2020 | 11,000 |
| Advance to suppliers on 31.03.2021 | 18,000 |
Official previous-year question
Held on 28 May 2023 · Verified 13 Jul 2026.
Options
- A
Rs. 3,63,000
- B
Rs. 2,63,000
- C
Rs. 3,36,000
- D
Rs. 2,36,000
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