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Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2006:
Receipt and Payment Account
for the year ending December 31, 2006
Life member ship fee
Printing and Stationery
Sale of old sports goods (Costing Rs 2,200)
Repair of ground
Sale of Old Newspaper
Cash in Hand
Cash at Bank
Fixed Deposit (on 1.10.06 for 10% p.a)
Subscription outstanding was on December 31, 2005 Rs 1,200 and Rs 3,200 on December 31, 2006. Locker rent outstanding on December 31, 2006 Rs 250. Salary outstanding on December 31, 2006 Rs 1,000.
On January 1, 2006, club has Building Rs 36,000, furniture Rs 12,000, Sports equipments Rs 17,500. Depreciation charged on these items @ 10% (including Purchase).
urgent: Wason's Double Entry book keeping For Class 11
Pg no:9.89 (Financial Statement of Not-For-Profit Organisation) Question no:44
Receipt and Payment Account of Shankar Sports club is given below, for the year ended December 31, 2006
Opening Cash in hand
Donation for building
Life membership fee
Profit from entertainment
Cash in hand
Prepare Income and Expenditure Account and Balance Sheet with help of following Information:
Subscription outstanding on 31st December 2005 is Rs 1, 200 and Rs 2,300 on 31.12.2006, opening stock of postage stamps is Rs 300 and closing stock is Rs 200, Rent Rs 1,500 related to 2005 and Rs 1,500 is still unpaid.
On January 1, 2006 the club owned furniture Rs 15,000, Furniture valued at Rs 22,500
On 31.12.2006. The club took a loan of Rs 20,000 (@ 10% p.a.) in 2005.
From the following receipts and payments and information given below, Prepare Income and Expenditure Account and opening Balance Sheet of Adult Literacy Organisation as on December 31, 2006.
Receipt and Payment Account for the year ending
as on December 31, 2006
Fixed deposit with bank
(on 31.06.2006) @ 10% p.a.
Sale of old newspapers
Sale of old furniture (book value Rs5000)
Interest received on FD
(i) Subscription outstanding as on 31.12.2005 Rs 2,000 and on December 31, 2006 Rs 1,500.
(ii) On December 31, 2006 Salary outstanding Rs 600, and one month Rent paid in advance.
(iii) On Jan. 01, 2005 organisation owned Furniture Rs 12,000, Books Rs 5,000.
ch-20 Financial statements of not for profit organisation
according to ts grewal
practical promblem Q 8,9,10,11,12,13,14,15,16 PG NO.20.53 TO20.55
How to treat Gopvernment Grants in accounts for NPO?
From the following Receipt and Payment Account of a club, prepare Income and Expenditure Account for the year ended December 31, 2013 and the Balance Sheet as on that date.
for the year ending December 31, 2013
Sale of old Books
(Costing Rs 3,200)
Rent from use of hall
Sale of newspapers
The club has 100 members each paying an annual subscription of Rs 900. Subscriptions outstanding on December 31, 2012 were Rs 3,600.
On December 31, 2013 , salary outstanding amounted to Rs 1,000, Salary paid included Rs 1,000 for the year 2012.
On January 1, 2013 the club owned land and building Rs 25,000, furniture Rs 2,600 and books Rs 6,200.
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From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account and Balance Sheet for the year ending December 31, 2006.
Cash in hand as on 1.1.06
Sale of furniture (Book value Rs 6000)
Interest on investment (@ 5% for full year)
Cash in Hand as 31.12.2006
Subscription received in advance
Stock of stationery
i want answer key of ch given below of ABD ACCOUNTANCY 11
Why is interest on general fund investments shown in income and expenditure account ?rather then adding it with the general fund on theliabilities side of the balance sheet .
The Receipt and Payment Account of Harimohan charitable institution is given:
Receipt and Payment Account for the year ending March 31, 2007
Advance for building
Rent and Taxes
Interest on Investment
Interest on Deposits
Prepare the Income and Expenditure Account for the Year ended on March 31, 2007 after considering the following:
It was decided to treat Fifty per cent of the amount received on account of Legacies and Donations as income.
Liabilities to be provided for are:
Rent Rs 800; Salaries Rs 1,200; advertisement Rs 200.
Rs 2,000 due for interest on investment was not actually received.
Following is the Receipt and Payment account of Rohatgi Trust :
Purchase of furniture
Sale of Investment
Interest on investment
Help to needy students
Sale of old furniture (book value Rs 3,000)
Cash at bank
Prepare Income and expenditure account for the year ended December 31, 2006, and a balance sheet as on that date after the following adjustments: Subscription for 2006, still owing were Rs 7,000. Interest due on defence
bonds was Rs7,000, Rent still owing was Rs 1,000. The Book value of investment sold was Rs 80,000, Rs 30,000 of the investment were still in hand. Subscription received in 2006 included Rs 400 from a life member. The total furniture on January 1, 2006 was worth Rs 12,000. Salary paid for the year 2007 is Rs 2,000.
Following is the information given in respect of certain items of a Sports Club. Show these items in the Income and Expenditure Account and the Balance Sheet of the Club:
Sports Fund as on 1.4.2005
Sports Fund Investments
Interest on Sports Fund
Donations for Sports Fund
Sports Prizes awarded
Expenses on Sports Events
General Fund Investments
Interest on General Fund Investments
can u please explain me a question of ts grewal - double entry book keeping
chapter - accounting for not for profit organisation
page no. - 19.65
How To Calculate no. of goods consumed in "NPO
From the following particulars, prepare Income and Expenditure account:
Fees collected, including Rs 80,000 on account of the previous year
Fees for the year outstanding
Salary paid, including Rs 5,000 on account of the previous year
Salary outstanding at the end of the year
Purchase of Books and Periodicals, including Rs 31,000 for purchase of Books
Postage, telegrams and telephones
Explain the statement: “Receipt and Payment Account is a summarised version of Cash Book”.
Following is the Receipt and Payment Account of Women’s Welfare Club for the year ended December 31, 2013:
Grant from Government
Proceeds of charity show
Interest on investments @ 10% for full year
Expenses on charity show
Honorarium to Secretary
Subscription received in advanced
Electricity charges outstanding
Prepare Income and Expenditure Account for the year ended December 31, 2013 and Balance Sheet as on that date.
From the following particulars taken from the Cash Book of a health club, prepare a Receipts and Payments Account.
Postage and stationery
Closing Cash in Hand
Distinguish between Receipts and Payments Account and Income and Expenditure Account.
Question-> Give any one similarity between Receipts & Payments A/c and Income & Expenditure A/c.
How will you deal with the following items while preparing for the Bombay Women Cricket Club its income and expenditure account for the year ending 31.3.2007 and its Balance Sheet as on 31.3.2007:
Donation received during the year for the construction of a permanent Pavilion
Expenditure incurred up to 31.3.2007 on its construction
The total estimated expenditure on construction of Pavilion being
Balance as on 1.4.2006
Subscriptions for tournament received during the year
Expenditure incurred during the year on conducting tournaments
Life Membership fee received during the year
Give reasons for your answers
What steps are taken to prepare Income and Expenditure Account from a Receipt and Payment Account?
Explain the basic features of Income and Expenditure Account and of Receipt and Payment Account.
following is the receipt and payment account of natraj literary society hyderabad for the year ended 31st december 1998 :
receiptsRs payments Rs
to balance b/d 1-1-19987200By salaries 16,500
To Donations8000 By sundry expenses 1,000
To rent of the hall 15,400 By charities 1,500
To proceeds of lectures 4,700 By cost of lectures 3,000
To Interest on bonds 900 By newspapers 3,800
To journey receipts 5,600By journey Expenses 4,400
To sale of old newspaper 300 By Books 14,000
To sale of old furniture (book value rs 2,000) 400 By mowing machine (purchased on 1-4-1998) 10,000
To subscriptions : By furniture 7,000
1997 1,500 By postsge400
1998 38,000 By conveyance 800
1999 80040,300 By balance c/d 20,400
Additional Information : -
(1) there are 40 members each paying an annual subscription of 100 .
(2) on 31 st december 1997 the trustowned buildingsrs 75,500; furniture rs 10,000 ; books rs 6,000 and 12% bonds rs 10,000 .
(3) salaries of rs 1,500 for december 1998 were not paid until 7th january , 1999 .
(4) journey income receivable Rs 400 .
(5) charge depreciation @ 10% p.a. on buildings and mowing machine and 20% p.a. on the closing balance of furniture and books .
(6) it was decided to treat one - half of the amountreceived on account of donations as income.
prepare income and expenditure avvount for the year ending 31st dec., 1998and a balance sheet on that date .
Hints:- (1) Salary of rs 1,500 will be treated as outstanding .
(2) half the donations will be shown on the liabilities side .
(3) subscription outstanding rs 2,000 .
What is subscription? How is it calculated?
Show the treatment of items of Income and Expenditure Account when there is a specific fund for those items.
please ssolve these ques 0f ts grewal
page n0 19.64 ques 39,40
and page no. 19.65 ques 41 and ques 45
The Receipts and Payments Account of Youth Club for the year ended 31st March 2007 is as under:
To Balance b/d: 450
To Sale of Billiard Table (At Book Value): 4000
ToDonations for Building:250000
To Subscriptions(Including Rs 2000for 2005-06): 18000
To Interest (@ 7% on Investments for full year): 7000
By Rent for Playground( Includingn Rs 1000 for 2005-06): 12000
By refreshment expenses:2700
By Travelling Expenses:810
By Investments (31.3.2007): 20,000
By Sports Equioment: 70200
By Tournament Fees: 18100
By Affialiation fees:7100
By Salary: 21800
By Miscellaneous Expenses: 7200
By balance c/d: 119540
Prepare the Club's Income and Expenditure Account for the year ended 31st March 2007 and the Balance Sheet as on that date, after taking the following information into account:
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