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).
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.
To Balance b/d
To Subscriptions (including
Rs 10,000 for 2018-19)
To Life Membership Fee
To Interest on Investments
7% p.a. for full year)
2,40,000
5,80,000
25,000
28,000
By Rent
(paid for 11 months)
By Insurance
By Salaries
By Stationery purchased
By Balance c/d
1,76,000
3,000
2,64,000
60,000
3,70000
,
8,73,000
8,73,000
Prepare Income and Expenditure Account for the year ending 31st March, 2018
and the Balance Sheet as at that date after considering the following information :
(i) Subscription in arrear on 31st March, 2017 were Rs. 30,000 and on 31st March 2018 were Rs. 48,000.
(ii) Stock of stationery on 31st March, 2017 was 5,000 and on 31st March, 2018
14,000.
(iii) Insurance was paid on 1st January 2018 to run for one year.
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.
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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
Receipts
Amount
Rs
Payments
Amount
Rs
Balance b/d
7,890
Salary
11,000
Subscriptions
52,000
Electric charges
5,500
Life member ship fee
2,200
Billiard Table
17,500
Entrance fee
3,200
Office expenses
4,100
Tournament fund
26,000
Printing and Stationery
2,300
Locker Rent
1,250
Tournament expenses
18,500
Sale of old sports goods (Costing Rs 2,200)
2,500
Repair of ground
2,000
Sale of Old Newspaper
750
Furniture purchased
7,700
Legacy
37,500
Sports equipments
12,000
Cash in Hand
12,690
Cash at Bank
10,000
Fixed Deposit (on 1.10.06 for 10% p.a)
30,000
1,33,290
1,33,290
Other Information:
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
Receipt and Payment Account
for the year ending December 31, 2006
Receipts
Amount
Rs
Payments
Amount
Rs
Opening Cash in hand
2,600
Rent
18,000
Entrance fees
3,200
Wages
7,000
Donation for building
23,000
Billiard table
14,000
Locker rent
1,200
Furniture
10,000
Life membership fee
7,000
Interest
2,000
Profit from entertainment
3,000
Postage
1,000
Subscription
40,000
Salary
24,000
Cash in hand
4,000
80,000
80,000
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.
Calculate at of subscription to be credited to income and expenditure account for the year ended 31st March 2019
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
Receipts
Amount
Rs
Payments
Amount
Rs
Balance b/d
General Expenses
3,200
Cash in hand
4,000
News paper
1,850
Cash at Bank
15,550
Electricity
3,000
Subscriptions
Fixed deposit with bank
(on 31.06.2006) @ 10% p.a.
18,000
2005
1,200
2006
26,500
Books
7,000
2007
500
28,200
Salary
3,600
Sale of old newspapers
1,250
Rent
6,500
Govt. grant
12,000
Postage charges
300
Sale of old furniture (book value Rs5000)
3,700
Furniture (purchased)
10,500
Interest received on FD
450
Balance c/d
Cash in Hand
3,000
Cash at Bank
8,200
65,150
65,150
Information:
(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.
Q8. Following is the Receipt and Payment Account of Literacy Club for the year ended 31-3. 2006.
Subscription :
2004-05 1,200
2005-06 26,500
2006-07 500
Sale of old newspaper
Government Grants
Sale of old furniture
(Book value Rs. 7,000)
Interest on fixed deposits
28,200
1,250
10,000
5,700
450
Newspaper
Electricity Bill
Fixed Deposit
(on 1.7.05 @ 9% p.a)
Books
Rent
Furniture
Balance c/d
2,000
1,000
20,000
10,000
6,800
10,500
11,200
Additional information :
1. Subscription outstanding as on 31-3-2005 were Rs. 2,000 and on 31-3-2006 Rs. 2,500
2. On 31-3-2006 salary outstanding was Rs. 600 and rent outstanding was Rs. 1,200
3. The club owned furniture Rs. 15,000 and books Rs. 7,000 on 1-4-2005.
prepare Income and Expenditure Account of the club for the year ended 31-3-2006 and ascertain 'Capital Fund' on 31-3-2005. Also prepare a Balance sheet as at 31st March, 2006.
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.
Receipt and Payment Account
for the year ending December 31, 2013
Receipts
Amount
Rs
Payments
Amount
Rs
Balance b/d
3,500
General expenses
900
Subscription:
2012
2013
2014
2,000
70,000
3,000
75,000
Salary
Postage
Electricity charges
Furniture
16,000
1,300
7,800
26,500
Sale of old Books
2,000
Books
13,000
(Costing Rs 3,200)
Newspapers
600
Rent from use of hall
17,000
Meeting expenses
7,200
Sale of newspapers
400
T.V. set
16,000
Profit from entertainment
7,300
Balance c/d
15,900
1,05,200
1,05,200
Additional Information:
(a)
The club has 100 members each paying an annual subscription of Rs 900. Subscriptions outstanding on December 31, 2012 were Rs 3,600.
(b)
On December 31, 2013 , salary outstanding amounted to Rs 1,000, Salary paid included Rs 1,000 for the year 2012.
(c)
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.
Receipt and Payment Account
for the year ending December 31, 2006
Receipts
Amount
Rs
Payments
Amount
Rs
Cash in hand as on 1.1.06
6,800
Salaries
24,000
Subscription
60,200
Traveling Expenses
6,000
Donation
3,000
Stationery
2,300
Sale of furniture (Book value Rs 6000)
4,000
Rent
16,000
Entrance fee
800
Repair
700
Life membership fee
7,000
Books purchased
6,000
Interest on investment (@ 5% for full year)
5,000
Building purchased
30,000
Cash in Hand as 31.12.2006
1,800
86,800
86,800
Additional Information:
As on
1.01.2006
As on
31.12.2006
(i)
Subscription received in advance
1,000
3,200
(ii)
Outstanding subscription
2,000
3,700
(iii)
Stock of stationery
1,200
800
(iv)
Books
13,500
16,500
(v)
Furniture
16,000
8,000
(vi)
Outstanding rent
1,000
2,000
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 .
year ended 31st March. 2018 :
To Subscriptions (including
Rs 10,000 for 2018-19)
To Life Membership Fee
To Interest on Investments
7% p.a. for full year)
5,80,000
25,000
28,000
(paid for 11 months)
By Insurance
By Salaries
By Stationery purchased
By Balance c/d
1,76,000
3,000
2,64,000
60,000
3,70000
Prepare Income and Expenditure Account for the year ending 31st March, 2018
and the Balance Sheet as at that date after considering the following information :
(i) Subscription in arrear on 31st March, 2017 were Rs. 30,000 and on 31st March 2018 were Rs. 48,000.
(ii) Stock of stationery on 31st March, 2017 was 5,000 and on 31st March, 2018
14,000.
(iii) Insurance was paid on 1st January 2018 to run for one year.
The Receipt and Payment Account of Harimohan charitable institution is given:
Receipt and Payment Account for the year ending March 31, 2007
Receipts
Amount
Rs
Payments
Amount
Rs
Balance b/d:
Furniture
3,000
Cash at Bank
22,000
Investments
55,000
Cash in Hand
8,800
Advance for building
20,000
Donations
32,000
Charities
60,000
Subscriptions
50,200
Salaries
10,400
Endowment Fund
60,000
Rent and Taxes
4,000
Legacies
24,000
Printing
1,000
Interest on Investment
3,800
Postage
300
Interest on Deposits
800
Advertisements
1,100
Sale of old newspapers
500
Insurance
4,800
Balance c/d:
Cash at Bank
32,000
Cash in Hand
10,500
2,02,100
2,02,100
Prepare the Income and Expenditure Account for the Year ended on March 31, 2007 after considering the following:
(i)
It was decided to treat Fifty per cent of the amount received on account of Legacies and Donations as income.
(ii)
Liabilities to be provided for are:
Rent Rs 800; Salaries Rs 1,200; advertisement Rs 200.
(iii)
Rs 2,000 due for interest on investment was not actually received.
Following is the Receipt and Payment account of Rohatgi Trust :
Receipt and Payment Account
for the year ending December 31, 2006
Receipts
Amount
Rs
Payments
Amount
Rs
Cash in hand
14,000
Rent
6,000
Cash at Bank
60,000
Salary
12,000
Subscriptions:
2005
2006
2007
5,000
83,000
3,000
91,000
Postage
Electricity charges
Purchase of furniture
Books
300
6,000
20,000
3,000
Sale of Investment
90,000
Defence Bonds
1,50,000
Interest on investment
2,000
Help to needy students
22,000
Sale of old furniture (book value Rs 3,000)
3,200
Cash in hand
Cash at bank
10,900
30,000
2,60,200
2,60,200
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:
Particulars
Rs
Sports Fund as on 1.4.2005
35,000
Sports Fund Investments
35,000
Interest on Sports Fund
4,000
Donations for Sports Fund
15,000
Sports Prizes awarded
10,000
Expenses on Sports Events
4,000
General Fund
80,000
General Fund Investments
80,000
Interest on General Fund Investments
8,000
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
question -41
answer soon!
How To Calculate no. of goods consumed in "NPO
"
From the following particulars, prepare Income and Expenditure account:
Details
Amount Rs
Fees collected, including Rs 80,000 on account of the previous year
5,20,000
Fees for the year outstanding
30,000
Salary paid, including Rs 5,000 on account of the previous year
68,000
Salary outstanding at the end of the year
3,000
Entertainment expenses
8,000
Tournament expenses
25,000
Meeting Expenses
18,000
Traveling Expenses
7,000
Purchase of Books and Periodicals, including Rs 31,000 for purchase of Books
40,000
Rent
15,000
Postage, telegrams and telephones
6,000
Printing and Stationery
18,000
Donations received
25,000
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:
Receipt and Payment Account
for the year ending December 31, 2013
Receipts
Amount
Rs
Payments
Amount
Rs
Balance b/d
7,250
Salary
12,500
Subscriptions
81,750
Stationery
1,700
Donations
3,000
Electricity charges
9,550
Grant from Government
15,000
Insurance
7,500
Sale of newspapers
300
Equipments
30,000
Proceeds of charity show
16,500
Petty expenses
500
Interest on investments @ 10% for full year
7,000
Expenses on charity show
12,900
Sundries income
400
Newspapers
1,000
Lectures fee
16,500
Honorarium to Secretary
12,000
Balance c/d
27,050
1,31,200
1,31,200
Additional Information:
01.01.2013
Rs
31.12.2013
Rs
Outstanding salaries
1,200
1,800
Insurance prepaid
700
300
Subscription outstanding
3,750
2,500
Subscription received in advanced
1,750
1,000
Electricity charges outstanding
—
1,250
Stock of stationery
2,250
700
Equipments
25,600
50,200
Building
1,20,000
1,14,000
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.
Particulars
Rs
Opening balance:
Cash in Hand
5,000
Cash at Bank
25,000
Subscriptions
1,65,000
Donations
35,000
Investment Purchased
80,000
Rent Paid
20,000
General Expenses
21,500
Postage and stationery
2,000
Courier charges
1,000
Sundry Expenses
2,500
Closing Cash in Hand
12,000
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:
Rs
(a)
Donation received during the year for the construction of a permanent Pavilion
12,25,000
Expenditure incurred up to 31.3.2007 on its construction
10,80,000
The total estimated expenditure on construction of Pavilion being
25,00,000
(b)
Tournament Fund:
Balance as on 1.4.2006
10,700
Subscriptions for tournament received during the year
65,800
Expenditure incurred during the year on conducting tournaments
72,400
(c)
Life Membership fee received during the year
28,000
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.
urgentttt
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:
RECEIPTS:
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
Total:2,79,450
PAYMENTS:
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
Total: 2,79,450
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: