Q2788
The following information is provided by a cultural club: Stock of sports goods : Rs. 20,000 Purchase of sports goods during the accounting period : Rs. 80,000 Sports goods sold as scrap : Rs. 500 Closing balance : Rs. 30,000 The amount to be charged to Income and Expenditure Accounts as sports goods consumed will be:
A.
Rs. 69,500
AnswerB.
Rs. 70,000
C.
Rs. 70,500
D.
Rs. 80,000
Answer: Option A
Solution
Answer: Option A
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