Hor are the following dealt with while preparing the final accounts of a sports club for the year ended 31st March 2019 ?

Additional Information:
`{:(,"As at 31st March , 2018(Rs)",,"As at 31st March 2019(Rs)"),("Sporst Materials","20,000",,"25,000"),("Creditors for Sports Materials","7,000",,"15,000"):}`

Answer

Sports Materials consumed debited to Income and Expenditure `A//C` -Rs 54,000; Gain (profit) on Sale of Sports Materials credited to income and Expenditure `A//C`-Rs 6,000; Stock of sports material (Assets side) -Rs 25,000; Creditors for Sports materials (Liabilities side) -Rs 15,000.

Explanation

N/a