(b) Prepare Stationary Account from the following information.
(i) Stationary in hand Rs. 5,000;
(ii) Purchase new stationary from al Rs.9,500;
(iii) Returned part of the stationary to the supplier of Stationary Rs.800;
(iv) Sold few stationary to Nanda Rs.2,500 and received a cheque Rs.1,500;
(v) Proprietor took some stationary costing Rs.700 for his children;
(vi) Nanda returned stationary Rs.300;
(vii) Stationary in hand Rs. 400
To prepare the Stationary Account, we need to keep track of all the transactions related to stationary. Here's how we can do that:
1. Start with the opening balance of Stationary in hand, which is Rs. 5,000.
Stationery in hand: Rs. 5,000
2. Record the purchase of new stationary from al for Rs. 9,500.
Stationery in hand: Rs. 5,000
Purchase from al: Rs. 9,500
3. Note the return of part of the stationary to the supplier for Rs. 800.
Stationery in hand: Rs. 5,000
Purchase from al: Rs. 9,500
Return to supplier: Rs. 800
4. Record the sale of some stationary to Nanda for Rs. 2,500 and receiving a cheque for Rs. 1,500.
Stationery in hand: Rs. 5,000
Purchase from al: Rs. 9,500
Return to supplier: Rs. 800
Sale to Nanda: Rs. 2,500
Cheque received: Rs. 1,500
5. Note that the proprietor took some stationary costing Rs. 700 for his children.
Stationery in hand: Rs. 4,300 (5,000 - 700)
Purchase from al: Rs. 9,500
Return to supplier: Rs. 800
Sale to Nanda: Rs. 2,500
Cheque received: Rs. 1,500
6. Record the return of stationary by Nanda for Rs. 300.
Stationery in hand: Rs. 4,300
Purchase from al: Rs. 9,500
Return to supplier: Rs. 800
Sale to Nanda: Rs. 2,200 (2,500 - 300)
Cheque received: Rs. 1,500
7. Finally, note the closing balance of Stationery in hand, which is Rs. 400.
Stationery in hand: Rs. 4,700 (4,300 + 400)
Purchase from al: Rs. 9,500
Return to supplier: Rs. 800
Sale to Nanda: Rs. 2,200
Cheque received: Rs. 1,500
This is how you can prepare the Stationery Account using the given information.