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Page No 22.60:
Question 1:
Answer:
Books of Evergreen Club |
|||||||
Receipts and Payments Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Receipts |
Amount (Rs) |
Payments |
Amount (Rs) |
||||
Balance b/d |
|
Investments Purchased |
5,000 |
||||
Cash in Hand |
500 |
|
Rent Paid |
500 |
|||
Cash at Bank |
3,400 |
3,900 |
General Expenses |
2,300 |
|||
Subscription Received |
15,700 |
Postage and Stationery |
250 |
||||
Donation Received |
2,800 |
Newspapers and Magazines |
870 |
||||
Sale of Old Newspapers |
120 |
Books Purchased |
3,400 |
||||
Interest on Investments Received |
500 |
Sports Material Purchased |
4,700 |
||||
|
|
Honorarium to Coacher |
1,500 |
||||
|
|
Balance c/d |
|
||||
|
|
Cash in Hand |
300 |
|
|||
|
|
Cash at Bank (Balancing Figure) |
4,200 |
4,500 |
|||
|
23,020 |
|
23,020 |
||||
|
|
|
|
Page No 22.60:
Question 2:
Books of Evergreen Club |
|||||||
Receipts and Payments Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Receipts |
Amount (Rs) |
Payments |
Amount (Rs) |
||||
Balance b/d |
|
Investments Purchased |
5,000 |
||||
Cash in Hand |
500 |
|
Rent Paid |
500 |
|||
Cash at Bank |
3,400 |
3,900 |
General Expenses |
2,300 |
|||
Subscription Received |
15,700 |
Postage and Stationery |
250 |
||||
Donation Received |
2,800 |
Newspapers and Magazines |
870 |
||||
Sale of Old Newspapers |
120 |
Books Purchased |
3,400 |
||||
Interest on Investments Received |
500 |
Sports Material Purchased |
4,700 |
||||
|
|
Honorarium to Coacher |
1,500 |
||||
|
|
Balance c/d |
|
||||
|
|
Cash in Hand |
300 |
|
|||
|
|
Cash at Bank (Balancing Figure) |
4,200 |
4,500 |
|||
|
23,020 |
|
23,020 |
||||
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Subscription |
42,000 |
|
||
|
|
Less: Outstanding for 2015 |
(1,400) |
|
||
|
|
Add: Outstanding for 2016 |
1,000 |
41,600 |
||
|
|
|
|
Page No 22.60:
Question 3:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Subscription |
42,000 |
|
||
|
|
Less: Outstanding for 2015 |
(1,400) |
|
||
|
|
Add: Outstanding for 2016 |
1,000 |
41,600 |
||
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
|
|
Subscription |
|
||
|
|
(450 Members × Rs 20 each) |
9,000 |
||
|
|
|
|
Page No 22.61:
Question 4:
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
|
|
Subscription |
|
||
|
|
(450 Members × Rs 20 each) |
9,000 |
||
|
|
|
|
Answer:
Statement of Subscription for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Subscription received during the year 2015-16 |
40,900 |
Add: Outstanding for 2015-16 (Current year) |
1,500 |
Less: Received for 2014-15 (Previous year) |
(500) |
Add: Advance received in 2014-15 (Previous year) |
1,800 |
Less: Advance received for 2016-17 (Next year) |
(1,000) |
Subscription to be credited to Income and Expenditure Account |
42,700 |
|
|
Page No 22.61:
Question 5:
Statement of Subscription for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Subscription received during the year 2015-16 |
40,900 |
Add: Outstanding for 2015-16 (Current year) |
1,500 |
Less: Received for 2014-15 (Previous year) |
(500) |
Add: Advance received in 2014-15 (Previous year) |
1,800 |
Less: Advance received for 2016-17 (Next year) |
(1,000) |
Subscription to be credited to Income and Expenditure Account |
42,700 |
|
|
Answer:
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscription received during the year 2015-16 |
30,000 |
Less: Subscription-in-Arrears for 2014-15 |
(5,000) |
Add: Subscription-in-Arrears for 2015-16 |
2,500 |
Add: Subscription-in Advance for 2014-15 |
3,000 |
Less: Subscription-in Advance for 2015-16 |
(7,000) |
Subscription to be Credited to Income and Expenditure Account |
23,500 |
|
|
Page No 22.61:
Question 6:
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscription received during the year 2015-16 |
30,000 |
Less: Subscription-in-Arrears for 2014-15 |
(5,000) |
Add: Subscription-in-Arrears for 2015-16 |
2,500 |
Add: Subscription-in Advance for 2014-15 |
3,000 |
Less: Subscription-in Advance for 2015-16 |
(7,000) |
Subscription to be Credited to Income and Expenditure Account |
23,500 |
|
|
Answer:
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions collected during the year 2015-16 |
2,50,000 |
Add: Subscriptions-in-arrears for the year 2015-16 |
6,000 |
Less: Subscriptions received in advance for the year 2016-17 |
(5,000) |
Subscriptions Income for the year 2015-16 |
2,51,000 |
|
|
Case 2
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions collected during the year 2015-16 |
49,000 |
Add: Subscriptions collected for 2015-16 in 2014-15 |
3,000 |
Add: Subscriptions unpaid for the year 2015-16 |
2,000 |
Subscriptions Income for the year 2015-16 |
54,000 |
|
|
Case 3
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
25,000 |
Less: Subscriptions outstanding in the beginning of 2015-16 |
(3,000) |
Add: Subscriptions yet not collected for 2015-16 |
5,000 |
Subscriptions Income for the year 2015-16 |
27,000 |
|
|
Case 4
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
80,000 |
Less: Subscriptions outstanding in the beginning of 2015-16 |
(5,000) |
Add: Subscriptions yet not collected for 2015-16 |
8,000 |
Less: Subscriptions for 2016-17 received in advance |
(2,000) |
Subscriptions Income for the year 2015-16 |
81,000 |
|
|
Case 5
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
90,000 |
Less: Subscriptions outstanding at the end of 2014-15 |
(5,000) |
Add: Subscriptions received in advance on March 31, 2015 |
3,000 |
Less: Subscriptions received in advance on March 31, 2016 |
(4,000) |
Add: Subscriptions not yet collected for 2015-16 |
6,000 |
Subscriptions Income for the year 2015-16 |
90,000 |
|
|
Page No 22.61:
Question 7:
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions collected during the year 2015-16 |
2,50,000 |
Add: Subscriptions-in-arrears for the year 2015-16 |
6,000 |
Less: Subscriptions received in advance for the year 2016-17 |
(5,000) |
Subscriptions Income for the year 2015-16 |
2,51,000 |
|
|
Case 2
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions collected during the year 2015-16 |
49,000 |
Add: Subscriptions collected for 2015-16 in 2014-15 |
3,000 |
Add: Subscriptions unpaid for the year 2015-16 |
2,000 |
Subscriptions Income for the year 2015-16 |
54,000 |
|
|
Case 3
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
25,000 |
Less: Subscriptions outstanding in the beginning of 2015-16 |
(3,000) |
Add: Subscriptions yet not collected for 2015-16 |
5,000 |
Subscriptions Income for the year 2015-16 |
27,000 |
|
|
Case 4
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
80,000 |
Less: Subscriptions outstanding in the beginning of 2015-16 |
(5,000) |
Add: Subscriptions yet not collected for 2015-16 |
8,000 |
Less: Subscriptions for 2016-17 received in advance |
(2,000) |
Subscriptions Income for the year 2015-16 |
81,000 |
|
|
Case 5
Statement of Subscription for the year ended 2015-16 |
|
Particulars |
Amount (Rs) |
Subscriptions received during the year 2015-16 |
90,000 |
Less: Subscriptions outstanding at the end of 2014-15 |
(5,000) |
Add: Subscriptions received in advance on March 31, 2015 |
3,000 |
Less: Subscriptions received in advance on March 31, 2016 |
(4,000) |
Add: Subscriptions not yet collected for 2015-16 |
6,000 |
Subscriptions Income for the year 2015-16 |
90,000 |
|
|
Answer:
Subscriptions Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
|
Subscriptions Outstanding (as on Dec. 31, 2012) |
500 |
Bank (Subscription received) |
22,300 |
|
Advance Subscriptions (for 2014) |
750 |
Subscriptions Outstanding (as on Dec. 31, 2013) (Bal. Fig.) |
1,450 |
|
Income and Expenditure (450 Member × Rs 50) |
22,500 |
|
|
|
|
23,750 |
|
23,750 |
|
|
|
|
|
|
Subscriptions-in-arrears in 2013 |
1,450 |
Less: Subscriptions still-in-arrears for 2012 |
(50) |
Subscriptions-in-arrears for 2013 |
1,400 |
Page No 22.62:
Question 8:
Subscriptions Account |
||||
Dr. |
Cr. |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
|
Subscriptions Outstanding (as on Dec. 31, 2012) |
500 |
Bank (Subscription received) |
22,300 |
|
Advance Subscriptions (for 2014) |
750 |
Subscriptions Outstanding (as on Dec. 31, 2013) (Bal. Fig.) |
1,450 |
|
Income and Expenditure (450 Member × Rs 50) |
22,500 |
|
|
|
|
23,750 |
|
23,750 |
|
|
|
|
|
|
Subscriptions-in-arrears in 2013 |
1,450 |
Less: Subscriptions still-in-arrears for 2012 |
(50) |
Subscriptions-in-arrears for 2013 |
1,400 |
Answer:
Statement of Subscriptions for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Subscriptions received during 2015-16 |
35,400 |
Less: Subscriptions-in-arrears received for 2014-15 |
(400) |
Less: Subscriptions received-in-advance for 2016-17 |
(1,200) |
Less: Subscriptions received-in-advance for 2017-18 |
(300) |
Add: Subscriptions Outstanding for 2015-16 |
400 |
Add: Subscriptions received in 2014-15 for 2015-16 |
1,100 |
Subscriptions to be credited to Income and Expenditure Account |
35,000 |
|
|
Page No 22.62:
Question 9:
Statement of Subscriptions for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Subscriptions received during 2015-16 |
35,400 |
Less: Subscriptions-in-arrears received for 2014-15 |
(400) |
Less: Subscriptions received-in-advance for 2016-17 |
(1,200) |
Less: Subscriptions received-in-advance for 2017-18 |
(300) |
Add: Subscriptions Outstanding for 2015-16 |
400 |
Add: Subscriptions received in 2014-15 for 2015-16 |
1,100 |
Subscriptions to be credited to Income and Expenditure Account |
35,000 |
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Subscriptions |
35,850 |
|
||
|
|
Add: Outstanding at the end |
3,750 |
|
||
|
|
Add: Advance in the beginning |
2,250 |
|
||
|
|
Less: Outstanding in the beginning |
(3,000) |
|
||
|
|
Less: Advance at the end |
(1,350) |
37,500 |
||
|
|
|
|
|||
Balance Sheet as on March 31, 2014 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in Advance |
2,250 |
Subscriptions Outstanding |
3,000 |
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in Advance |
1,350 |
Subscriptions Outstanding |
3,750 |
|
|
|
|
Page No 22.62:
Question 10:
Income and Expenditure Account for the year ended March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Subscriptions |
35,850 |
|
||
|
|
Add: Outstanding at the end |
3,750 |
|
||
|
|
Add: Advance in the beginning |
2,250 |
|
||
|
|
Less: Outstanding in the beginning |
(3,000) |
|
||
|
|
Less: Advance at the end |
(1,350) |
37,500 |
||
|
|
|
|
|||
Balance Sheet as on March 31, 2014 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in Advance |
2,250 |
Subscriptions Outstanding |
3,000 |
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in Advance |
1,350 |
Subscriptions Outstanding |
3,750 |
|
|
|
|
Answer:
Subscriptions Account |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Income and Expenditure (200 members × Rs 100 each) |
2,00,000 |
Bank (Subscriptions Received) |
2,05,000 |
Outstanding Subscriptions in the beginning |
30,000 |
Advance Subscriptions in the beginning |
14,000 |
Advance Subscriptions at the end |
40,000 |
Outstanding Subscriptions at the end (Balancing Figure) |
51,000 |
|
2,70,000 |
|
2,70,000 |
|
|
|
|
Page No 22.62:
Question 11:
Subscriptions Account |
|||
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Income and Expenditure (200 members × Rs 100 each) |
2,00,000 |
Bank (Subscriptions Received) |
2,05,000 |
Outstanding Subscriptions in the beginning |
30,000 |
Advance Subscriptions in the beginning |
14,000 |
Advance Subscriptions at the end |
40,000 |
Outstanding Subscriptions at the end (Balancing Figure) |
51,000 |
|
2,70,000 |
|
2,70,000 |
|
|
|
|
Answer:
Statement of Medicine Consumed during the year 2015-16 |
|
Particulars |
Amount (Rs) |
Medicine Purchased during the year 2015-16 |
60,80,700 |
Add: Stock in the beginning (as on April 01, 2015) |
1,75,750 |
Less: Stock at the end (as on March 31, 2016) |
(1,44,650) |
Medicine to be debited to Income and Expenditure Account |
61,11,800 |
|
|
Page No 22.62:
Question 12:
Statement of Medicine Consumed during the year 2015-16 |
|
Particulars |
Amount (Rs) |
Medicine Purchased during the year 2015-16 |
60,80,700 |
Add: Stock in the beginning (as on April 01, 2015) |
1,75,750 |
Less: Stock at the end (as on March 31, 2016) |
(1,44,650) |
Medicine to be debited to Income and Expenditure Account |
61,11,800 |
|
|
Answer:
(i)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
540 |
Less: Closing Stock (as on March 31, 2015) |
(25) |
Amount of Stationery to be posted to Income and Expenditure Account |
515 |
|
|
(ii)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Payment made for Stationery during the year 2014-15 |
540 |
Add: Opening Stock (as on April 01, 2014) |
150 |
Less: Closing stock (as on March 31, 2015) |
(25) |
Amount of Stationery to be posted to Income and Expenditure Account |
665 |
|
|
(iii)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
540 |
Add: Opening Stock (as on April 01, 2014) |
150 |
Less: Closing stock (as on March 31, 2015) |
(25) |
Less: Creditors for Stationery in the beginning (April 01, 2014) |
(100) |
Amount of Stationery to be posted to Income and Expenditure Account |
565 |
|
|
Page No 22.63:
Question 13:
(i)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
540 |
Less: Closing Stock (as on March 31, 2015) |
(25) |
Amount of Stationery to be posted to Income and Expenditure Account |
515 |
|
|
(ii)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Payment made for Stationery during the year 2014-15 |
540 |
Add: Opening Stock (as on April 01, 2014) |
150 |
Less: Closing stock (as on March 31, 2015) |
(25) |
Amount of Stationery to be posted to Income and Expenditure Account |
665 |
|
|
(iii)
Statement of Stationery Consumed at the end of March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
540 |
Add: Opening Stock (as on April 01, 2014) |
150 |
Less: Closing stock (as on March 31, 2015) |
(25) |
Less: Creditors for Stationery in the beginning (April 01, 2014) |
(100) |
Amount of Stationery to be posted to Income and Expenditure Account |
565 |
|
|
Answer:
Statement of Stationery Consumed for the year ended March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
1,40,000 |
Add: Opening Stock (as on April 01, 2014) |
12,000 |
Less: Closing Stock (as on March 31, 2015) |
(23,200) |
Add: Creditors at the end (as on March 31, 2015) |
24,000 |
Less: Creditors in the beginning (as on April 01, 2014) |
(25,600) |
Amount of Stationery be shown in Income and Expenditure Account |
1,27,200 |
|
|
Page No 22.63:
Question 14:
Statement of Stationery Consumed for the year ended March 31, 2015 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2014-15 |
1,40,000 |
Add: Opening Stock (as on April 01, 2014) |
12,000 |
Less: Closing Stock (as on March 31, 2015) |
(23,200) |
Add: Creditors at the end (as on March 31, 2015) |
24,000 |
Less: Creditors in the beginning (as on April 01, 2014) |
(25,600) |
Amount of Stationery be shown in Income and Expenditure Account |
1,27,200 |
|
|
Answer:
Statement of Stationery for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during 2015-16 |
2,160 |
Add: Opening Stock (as on April 01, 2015) |
600 |
Less: Closing stock (as on March 31, 2016) |
(100) |
Less: Creditors in the beginning (April 01, 2015) |
(400) |
Add: Creditors at the end (March 31, 2016) |
260 |
Add: Advance in the beginning (April 01, 2015) |
40 |
Less: Advance at the end (March 31, 2016) |
(60) |
Amount to be posted to Income and Expenditure Account |
2,500 |
|
|
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Stationery Consumed |
2,500 |
|
|
||
|
|
|
|
||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Stationery |
400 |
Stock of Stationery |
600 |
|
|
Advance paid for Stationery |
40 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Stationery |
260 |
Stock of Stationery |
100 |
|
|
Advance paid for Stationery |
60 |
|
|
|
|
Page No 22.63:
Question 15:
Statement of Stationery for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during 2015-16 |
2,160 |
Add: Opening Stock (as on April 01, 2015) |
600 |
Less: Closing stock (as on March 31, 2016) |
(100) |
Less: Creditors in the beginning (April 01, 2015) |
(400) |
Add: Creditors at the end (March 31, 2016) |
260 |
Add: Advance in the beginning (April 01, 2015) |
40 |
Less: Advance at the end (March 31, 2016) |
(60) |
Amount to be posted to Income and Expenditure Account |
2,500 |
|
|
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Stationery Consumed |
2,500 |
|
|
||
|
|
|
|
||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Stationery |
400 |
Stock of Stationery |
600 |
|
|
Advance paid for Stationery |
40 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Stationery |
260 |
Stock of Stationery |
100 |
|
|
Advance paid for Stationery |
60 |
|
|
|
|
Answer:
Statement of Stationery for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2015-16 |
10,800 |
Add: Opening Stock (as on April 01, 2015) |
3,000 |
Less: Closing stock (as on March 31, 2016) |
(500) |
Less: Creditors in the beginning (as on April 01, 2015) |
(2,000) |
Add: Creditors at the end (as on March 31, 2016) |
4,300 |
Add: Advance in the beginning (as on April 01, 2015) |
200 |
Less: Advance at the end (as on March 31, 2016) |
(1,300) |
Amount to be posted to Income and Expenditure Account |
14,500 |
|
|
Page No 22.63:
Question 16:
Statement of Stationery for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Stationery during the year 2015-16 |
10,800 |
Add: Opening Stock (as on April 01, 2015) |
3,000 |
Less: Closing stock (as on March 31, 2016) |
(500) |
Less: Creditors in the beginning (as on April 01, 2015) |
(2,000) |
Add: Creditors at the end (as on March 31, 2016) |
4,300 |
Add: Advance in the beginning (as on April 01, 2015) |
200 |
Less: Advance at the end (as on March 31, 2016) |
(1,300) |
Amount to be posted to Income and Expenditure Account |
14,500 |
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Sports Material |
1,40,000 |
|
|
|
||
Add: Opening Stock |
8,000 |
|
|
|
||
Less: Closing Stock |
(22,000) |
|
|
|
||
Less: Creditors in the beginning |
(6,000) |
1,20,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Stock of Sport Materials |
22,000 |
|
|
|
|
Page No 22.63:
Question 17:
Income and Expenditure Account for the year ended March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Sports Material |
1,40,000 |
|
|
|
||
Add: Opening Stock |
8,000 |
|
|
|
||
Less: Closing Stock |
(22,000) |
|
|
|
||
Less: Creditors in the beginning |
(6,000) |
1,20,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Stock of Sport Materials |
22,000 |
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Medicine |
1,50,000 |
|
|
|
||
Add: Opening Stock |
50,000 |
|
|
|
||
Less: Closing Stock |
(75,000) |
|
|
|
||
Less: Creditors in the beginning |
(40,000) |
|
|
|
||
Add: Creditors at the end |
60,000 |
1,45,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Medicines |
40,000 |
Stock of Medicines |
50,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Medicines |
60,000 |
Stock of Medicines |
75,000 |
|
|
|
|
Page No 22.64:
Question 18:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Medicine |
1,50,000 |
|
|
|
||
Add: Opening Stock |
50,000 |
|
|
|
||
Less: Closing Stock |
(75,000) |
|
|
|
||
Less: Creditors in the beginning |
(40,000) |
|
|
|
||
Add: Creditors at the end |
60,000 |
1,45,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Medicines |
40,000 |
Stock of Medicines |
50,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Medicines |
60,000 |
Stock of Medicines |
75,000 |
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Payment for Sports Material |
71,000 |
|
Profit on Sale of Sports Material (26,000 – 20,000) |
6,000 |
||
Add: Opening Stock |
20,000 |
|
|
|
||
Less: Closing Stock |
(25,000) |
|
|
|
||
Less: Creditors in the beginning |
(7,000) |
|
|
|
||
Add: Creditors at the end |
15,000 |
|
|
|
||
Less: Book Value of Material Sold |
(20,000) |
54,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sport Materials |
7,000 |
Stock of Sport Materials |
20,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sport Materials |
15,000 |
Stock of Sport Materials |
25,000 |
|
|
|
|
Page No 22.64:
Question 19:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Payment for Sports Material |
71,000 |
|
Profit on Sale of Sports Material (26,000 – 20,000) |
6,000 |
||
Add: Opening Stock |
20,000 |
|
|
|
||
Less: Closing Stock |
(25,000) |
|
|
|
||
Less: Creditors in the beginning |
(7,000) |
|
|
|
||
Add: Creditors at the end |
15,000 |
|
|
|
||
Less: Book Value of Material Sold |
(20,000) |
54,000 |
|
|
||
|
|
|
|
|||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sport Materials |
7,000 |
Stock of Sport Materials |
20,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sport Materials |
15,000 |
Stock of Sport Materials |
25,000 |
|
|
|
|
Answer:
Extract of Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Sports Material Consumed |
92,800 |
|
|
||
|
|
|
|
||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sports Materials |
9,800 |
Stock of Sports Materials |
6,200 |
|
|
Advance paid for Sports Materials |
11,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sports Materials |
7,200 |
Stock of Spors Materials |
4,800 |
|
|
Advance paid for Sports Materials |
19,000 |
|
|
|
|
Working Note:
Calculation of Sports Material Consumed
Particulars |
Amount (Rs) |
Sports Material |
1,02,000 |
Add: Opening Stock |
6,200 |
Less: Closing Stock |
(4,800) |
Less: Creditors in the beginning |
(9,800) |
Add: Creditors at the end |
7,200 |
Less: Advance at the end |
(19,000) |
Add: Advance in the beginning |
11,000 |
|
92,800 |
|
|
Alternatively, Sports Material consumed can also be calculated as.
Creditors for Sports Material Account |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Balance b/d (Advance in the beginning) |
11,000 |
Balance b/d (Creditors in the beginning) |
9,800 |
||
Bank A/c (Amount paid for stationery) |
1,02,000 |
Purchases A/c (Balancing Figure) |
91,400 |
||
Balance c/d (Creditors at the end) |
7,200 |
Balance c/d (Advance at the end) |
19,000 |
||
|
1,20,200 |
|
1,20,200 |
||
|
|
|
|
||
Sports Material Consumed= Opening Stock + Purchases – Closing Stock = 6,200 + 91,400 – 4,800 = Rs 92,800
Page No 22.64:
Question 20:
Extract of Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Sports Material Consumed |
92,800 |
|
|
||
|
|
|
|
||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sports Materials |
9,800 |
Stock of Sports Materials |
6,200 |
|
|
Advance paid for Sports Materials |
11,000 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Sports Materials |
7,200 |
Stock of Spors Materials |
4,800 |
|
|
Advance paid for Sports Materials |
19,000 |
|
|
|
|
Working Note:
Calculation of Sports Material Consumed
Particulars |
Amount (Rs) |
Sports Material |
1,02,000 |
Add: Opening Stock |
6,200 |
Less: Closing Stock |
(4,800) |
Less: Creditors in the beginning |
(9,800) |
Add: Creditors at the end |
7,200 |
Less: Advance at the end |
(19,000) |
Add: Advance in the beginning |
11,000 |
|
92,800 |
|
|
Alternatively, Sports Material consumed can also be calculated as.
Creditors for Sports Material Account |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Balance b/d (Advance in the beginning) |
11,000 |
Balance b/d (Creditors in the beginning) |
9,800 |
||
Bank A/c (Amount paid for stationery) |
1,02,000 |
Purchases A/c (Balancing Figure) |
91,400 |
||
Balance c/d (Creditors at the end) |
7,200 |
Balance c/d (Advance at the end) |
19,000 |
||
|
1,20,200 |
|
1,20,200 |
||
|
|
|
|
||
Sports Material Consumed= Opening Stock + Purchases – Closing Stock = 6,200 + 91,400 – 4,800 = Rs 92,800
Answer:
Furniture Account |
|||||||
Dr. |
|
Cr. |
|||||
Date |
Particulars |
Amount (Rs) |
Date |
Particulars |
Amount (Rs) |
||
2015 |
|
|
2015 |
|
|
||
April 01 |
Balance b/d |
|
Sept.30 |
Depreciation (i) (for 6 Months) |
150 |
||
|
(i) 3,000 |
|
Sept.30 |
Bank (Sale) (i) |
2,000 |
||
|
(ii) 3,000 |
6,000 |
Sept.30 |
Income and Expenditure (Loss on Sale) |
850 |
||
2016 | |||||||
|
|
|
March 31 |
Depreciation (ii) (for whole year) |
300 |
||
|
|
|
|
Balance c/d (ii) (3,000 – 300) |
2,700 |
||
|
|
6,000 |
|
|
6,000 |
||
|
|
|
|
|
|
||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Depreciation on Furniture |
|
|
|
||
(150 + 300) |
450 |
|
|
||
Loss on Sale of Furniture |
850 |
|
|
||
|
|
|
|
||
Working Note:
Calculation of Profit or Loss on Sale of Furniture
Particulars |
Amount (Rs) |
Book Value of Furniture Sold as on April 01, 2015 |
3,000 |
Less: Depreciation (for 6 Months) (3,000 × 10% × 6/12) |
(150) |
Book Value of Furniture as on Sept.30, 2015 |
2,850 |
Less: Sale Value |
(2,000) |
Loss on Sale of Furniture |
850 |
Page No 22.64:
Question 21:
Furniture Account |
|||||||
Dr. |
|
Cr. |
|||||
Date |
Particulars |
Amount (Rs) |
Date |
Particulars |
Amount (Rs) |
||
2015 |
|
|
2015 |
|
|
||
April 01 |
Balance b/d |
|
Sept.30 |
Depreciation (i) (for 6 Months) |
150 |
||
|
(i) 3,000 |
|
Sept.30 |
Bank (Sale) (i) |
2,000 |
||
|
(ii) 3,000 |
6,000 |
Sept.30 |
Income and Expenditure (Loss on Sale) |
850 |
||
2016 | |||||||
|
|
|
March 31 |
Depreciation (ii) (for whole year) |
300 |
||
|
|
|
|
Balance c/d (ii) (3,000 – 300) |
2,700 |
||
|
|
6,000 |
|
|
6,000 |
||
|
|
|
|
|
|
||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Depreciation on Furniture |
|
|
|
||
(150 + 300) |
450 |
|
|
||
Loss on Sale of Furniture |
850 |
|
|
||
|
|
|
|
||
Working Note:
Calculation of Profit or Loss on Sale of Furniture
Particulars |
Amount (Rs) |
Book Value of Furniture Sold as on April 01, 2015 |
3,000 |
Less: Depreciation (for 6 Months) (3,000 × 10% × 6/12) |
(150) |
Book Value of Furniture as on Sept.30, 2015 |
2,850 |
Less: Sale Value |
(2,000) |
Loss on Sale of Furniture |
850 |
Answer:
Furniture Account |
|||||||
Dr. |
|
Cr. |
|||||
Date |
Particulars |
Amount (Rs) |
Date |
Particulars |
Amount (Rs) |
||
2015 |
|
|
2015 |
|
|
||
Apr. 01 |
Balance b/d |
|
Dec. 31 |
Depreciation (ii) (for 9 Months) |
1,500 |
||
|
(i) 2,00,000 |
|
Dec. 31 |
Bank (Sale (ii)) |
14,800 |
||
|
(ii) 20,000 |
2,20,000 |
Dec. 31 |
Income and Expenditure (Loss on Sale) |
3,700 |
||
Oct. 01 |
Bank (iii) |
1,50,000 |
2016 |
|
|
||
|
|
|
Mar. 31 |
Depreciation |
|
||
|
|
|
|
(i) 20,000 |
|
||
|
|
|
|
(iii) 7,500 (for 6 Months) |
27,500 |
||
|
|
|
Mar. 31 |
Balance c/d |
|
||
|
|
|
|
(i) 1,80,000 |
|
||
|
|
|
|
(iii) 1,42,500 |
3,22,500 |
||
|
|
3,70,000 |
|
|
3,70,000 |
||
|
|
|
|
|
|
||
Working Note:
Calculation of Profit or Loss on Sale of Furniture
Particulars |
Amount (Rs) |
Book Value of Furniture (i) as on April 01, 2015 |
20,000 |
Less: Depreciation (for 9 Months) [20,000 × 10% × 9/12] |
(1,500) |
Book Value on December 31, 2015 |
18,500 |
Less: Loss on Sale of Furniture (18,500 × 20%) |
(3,700) |
Sale Value of Furniture |
14,800 |
Page No 22.64:
Question 22:
Furniture Account |
|||||||
Dr. |
|
Cr. |
|||||
Date |
Particulars |
Amount (Rs) |
Date |
Particulars |
Amount (Rs) |
||
2015 |
|
|
2015 |
|
|
||
Apr. 01 |
Balance b/d |
|
Dec. 31 |
Depreciation (ii) (for 9 Months) |
1,500 |
||
|
(i) 2,00,000 |
|
Dec. 31 |
Bank (Sale (ii)) |
14,800 |
||
|
(ii) 20,000 |
2,20,000 |
Dec. 31 |
Income and Expenditure (Loss on Sale) |
3,700 |
||
Oct. 01 |
Bank (iii) |
1,50,000 |
2016 |
|
|
||
|
|
|
Mar. 31 |
Depreciation |
|
||
|
|
|
|
(i) 20,000 |
|
||
|
|
|
|
(iii) 7,500 (for 6 Months) |
27,500 |
||
|
|
|
Mar. 31 |
Balance c/d |
|
||
|
|
|
|
(i) 1,80,000 |
|
||
|
|
|
|
(iii) 1,42,500 |
3,22,500 |
||
|
|
3,70,000 |
|
|
3,70,000 |
||
|
|
|
|
|
|
||
Working Note:
Calculation of Profit or Loss on Sale of Furniture
Particulars |
Amount (Rs) |
Book Value of Furniture (i) as on April 01, 2015 |
20,000 |
Less: Depreciation (for 9 Months) [20,000 × 10% × 9/12] |
(1,500) |
Book Value on December 31, 2015 |
18,500 |
Less: Loss on Sale of Furniture (18,500 × 20%) |
(3,700) |
Sale Value of Furniture |
14,800 |
Answer:
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Tournament Found |
50,000 |
|
|
|
Add: Tournament Receipts |
20,000 |
|
|
|
Less: Tournament Expenses |
(15,000) |
55,000 |
|
|
|
|
|
|
Page No 22.65:
Question 23:
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Tournament Found |
50,000 |
|
|
|
Add: Tournament Receipts |
20,000 |
|
|
|
Less: Tournament Expenses |
(15,000) |
55,000 |
|
|
|
|
|
|
Answer:
Case 1
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Prize Fund |
5,000 |
|
|
|
Less: Prize Paid |
(1,200) |
3,800 |
|
|
|
|
|
|
Note: Match Expenses of Rs 1,500 are not deductible from the Prize Fund. This is because the Prize Fund is maintained only to meet the expenses relating to the Prize. However, the match expenses (i.e. Rs 1,500) will be debited to the Income and Expenditure Account as there is no specific fund is maintained to meet such expenses.
Case 2
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Match Fund |
10,000 |
|
Match Fund Investments |
6,000 |
Less: Match Expenses |
(3,500) |
|
|
|
Add: Interest on Match Fund Investments |
300 |
6,800 |
|
|
|
|
|
|
Note:Prizes paid worth Rs 1,900 are not deductible from the Match fund because the Match Fund. This is because Match Fund is maintained only to meet the expenses relating to the Match. However, the prizes paid (i.e. Rs 1,900) will be debited to the Income and Expenditure Account as there is no specific fund is maintained for distributing the prizes. Also, the interest on Match Fund Investments is added to the Match Fund because it is an income related to this particular fund.
Page No 22.65:
Question 24:
Case 1
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Prize Fund |
5,000 |
|
|
|
Less: Prize Paid |
(1,200) |
3,800 |
|
|
|
|
|
|
Note: Match Expenses of Rs 1,500 are not deductible from the Prize Fund. This is because the Prize Fund is maintained only to meet the expenses relating to the Prize. However, the match expenses (i.e. Rs 1,500) will be debited to the Income and Expenditure Account as there is no specific fund is maintained to meet such expenses.
Case 2
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Match Fund |
10,000 |
|
Match Fund Investments |
6,000 |
Less: Match Expenses |
(3,500) |
|
|
|
Add: Interest on Match Fund Investments |
300 |
6,800 |
|
|
|
|
|
|
Note:Prizes paid worth Rs 1,900 are not deductible from the Match fund because the Match Fund. This is because Match Fund is maintained only to meet the expenses relating to the Match. However, the prizes paid (i.e. Rs 1,900) will be debited to the Income and Expenditure Account as there is no specific fund is maintained for distributing the prizes. Also, the interest on Match Fund Investments is added to the Match Fund because it is an income related to this particular fund.
Answer:
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Match Fund |
80,000 |
|
Match Fund Investment |
72,000 |
Add: Interest on Match Fund Investment |
2,880 |
|
Match Fund Bank Balance |
3,500 |
Less: Match Expenses |
(5,500) |
77,380 |
|
|
|
|
|
|
Page No 22.65:
Question 25:
Balance Sheet |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Match Fund |
80,000 |
|
Match Fund Investment |
72,000 |
Add: Interest on Match Fund Investment |
2,880 |
|
Match Fund Bank Balance |
3,500 |
Less: Match Expenses |
(5,500) |
77,380 |
|
|
|
|
|
|
Answer:
Case 1
Balance Sheet as on March 31, 2014 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund |
20,00,000 |
Pavilion Work-in-Progress |
6,00,000 |
|
|
|
|
Case 2
Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Pavilion Fund |
10,00,000 |
|
Pavilion Work-in-Progress |
6,00,000 |
Less: Expenditure on Construction of Pavilion |
(6,00,000) |
4,00,000 |
|
|
Capital Fund |
20,00,000 |
|
|
|
Add: Pavilion Work-in-Progress |
6,00,000 |
26,00,000 |
|
|
|
|
|
|
|
Case 3
Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Pavilion Fund |
10,00,000 |
|
|
|
Add: Donation |
5,00,000 |
|
Pavilion Work-in-Progress |
6,00,000 |
Less: Expenditure on Construction of Pavilion |
(6,00,000) |
9,00,000 |
|
|
Capital Fund |
20,00,000 |
|
|
|
Add: Pavilion Work-in-Progress |
6,00,000 |
26,00,000 |
|
|
|
|
|
|
Page No 22.65:
Question 26:
Case 1
Balance Sheet as on March 31, 2014 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund |
20,00,000 |
Pavilion Work-in-Progress |
6,00,000 |
|
|
|
|
Case 2
Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Pavilion Fund |
10,00,000 |
|
Pavilion Work-in-Progress |
6,00,000 |
Less: Expenditure on Construction of Pavilion |
(6,00,000) |
4,00,000 |
|
|
Capital Fund |
20,00,000 |
|
|
|
Add: Pavilion Work-in-Progress |
6,00,000 |
26,00,000 |
|
|
|
|
|
|
|
Case 3
Balance Sheet as on March 31, 2014 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Pavilion Fund |
10,00,000 |
|
|
|
Add: Donation |
5,00,000 |
|
Pavilion Work-in-Progress |
6,00,000 |
Less: Expenditure on Construction of Pavilion |
(6,00,000) |
9,00,000 |
|
|
Capital Fund |
20,00,000 |
|
|
|
Add: Pavilion Work-in-Progress |
6,00,000 |
26,00,000 |
|
|
|
|
|
|
Answer:
Statement of Salaries for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Salaries |
20,400 |
Add: Prepaid Salaries as on March 31, 2015 |
2,400 |
Less: Prepaid Salaries as on March 31, 2016 |
(1,200) |
Less: Outstanding Salaries as on March 31, 2015 |
(1,800) |
Add: Outstanding Salaries as on March 31, 2016 |
1,500 |
Salaries chargeable to Income and Expenditure Account |
21,300 |
|
|
Page No 22.65:
Question 27:
Statement of Salaries for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount paid for Salaries |
20,400 |
Add: Prepaid Salaries as on March 31, 2015 |
2,400 |
Less: Prepaid Salaries as on March 31, 2016 |
(1,200) |
Less: Outstanding Salaries as on March 31, 2015 |
(1,800) |
Add: Outstanding Salaries as on March 31, 2016 |
1,500 |
Salaries chargeable to Income and Expenditure Account |
21,300 |
|
|
Answer:
Statement of Miscellaneous Expenses for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount Paid for Miscellaneous Expenses during the year 2015-16 |
6,500 |
Add: Prepaid Expenses as on March 31, 2015 |
600 |
Less: Prepaid Expenses as on March 31, 2016 |
(800) |
Add: Outstanding Expenses as on March 31, 2015 |
(1,000) |
Less: Outstanding Expenses as on March 31, 2016 |
1,200 |
Miscellaneous Expenses chargeable to Income and Expenditure Account |
6,500 |
|
|
Page No 22.66:
Question 28:
Statement of Miscellaneous Expenses for the year ended March 31, 2016 |
|
Particulars |
Amount (Rs) |
Amount Paid for Miscellaneous Expenses during the year 2015-16 |
6,500 |
Add: Prepaid Expenses as on March 31, 2015 |
600 |
Less: Prepaid Expenses as on March 31, 2016 |
(800) |
Add: Outstanding Expenses as on March 31, 2015 |
(1,000) |
Less: Outstanding Expenses as on March 31, 2016 |
1,200 |
Miscellaneous Expenses chargeable to Income and Expenditure Account |
6,500 |
|
|
Answer:
Income and Expenditure Account |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Locker Rent Received |
5,200 |
|
||
|
|
Add: Outstanding at the end |
630 |
|
||
|
|
Add: Advance in the beginning |
300 |
|
||
|
|
Less: Outstanding in the beginning |
(460) |
|
||
|
|
Less: Advance at the end |
(400) |
5,270 |
||
|
|
|
|
Page No 22.66:
Question 29:
Income and Expenditure Account |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
|
|
Locker Rent Received |
5,200 |
|
||
|
|
Add: Outstanding at the end |
630 |
|
||
|
|
Add: Advance in the beginning |
300 |
|
||
|
|
Less: Outstanding in the beginning |
(460) |
|
||
|
|
Less: Advance at the end |
(400) |
5,270 |
||
|
|
|
|
Answer:
Income and Expenditure Account (Extract) for the year ending March 31,2016 |
|||
Dr. |
|
Cr. |
|
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
Salaries (WN2) |
1,00,000 |
Subscriptions (WN1) |
2,88,000 |
Sports Material Consumed (WN3) |
1,36,000 |
|
|
|
|
|
|
Balance Sheet (Extract) as on March 31,2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Advance Subscription |
10,400 |
Accrued Subscription |
14,000 |
Creditors for Sports Material |
18,000 |
|
|
|
|
|
|
Working Notes:
WN1: Subscription Account
Subscription Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Outstanding Subscription (Beg.) |
19,000 |
Advance Subscription (Beg.) |
5,600 |
Income & Expenditure A/c
|
2,88,000 |
Receipts and Payments A/c (total amount received during the year) |
2,97,800 |
Advance Subscription (End) |
10,400 |
Outstanding Subscription (End) |
14,000 |
|
3,17,400 |
|
3,17,400 |
|
|
|
|
WN2: Calculation of Salaries
Particulars |
Amount (Rs) |
Amount paid |
1,08,000 |
Less: Outstanding in the beginning |
30,000 |
Add: Outstanding at the end |
18,000 |
Add: Advance in the beginning |
10,000 |
Less: Advance at the end |
6,000 |
Amount to be shown in I&E A/c |
1,00,000 |
WN3:
Creditors for Sports Material Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Balance b/d (Advance in beg.) |
10,000 |
Balance b/d (Opening Creditors) |
30,000 |
Bank A/c (Amount paid) |
1,08,000 |
Credit Purchases (Bal. Fig.) |
1,00,000 |
Balance c/d (Closing Creditors) |
18,000 |
Balance c/d (Advance at end) |
6,000 |
|
1,36,000 |
|
1,36,000 |
|
|
|
|
Cash Purchases of Sports Material = Rs 20,000 (20% of Credit Purchases)
WN4: Calculation of Sports Material Consumed
Page No 22.66:
Question 30:
Income and Expenditure Account (Extract) for the year ending March 31,2016 |
|||
Dr. |
|
Cr. |
|
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
Salaries (WN2) |
1,00,000 |
Subscriptions (WN1) |
2,88,000 |
Sports Material Consumed (WN3) |
1,36,000 |
|
|
|
|
|
|
Balance Sheet (Extract) as on March 31,2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Advance Subscription |
10,400 |
Accrued Subscription |
14,000 |
Creditors for Sports Material |
18,000 |
|
|
|
|
|
|
Working Notes:
WN1: Subscription Account
Subscription Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Outstanding Subscription (Beg.) |
19,000 |
Advance Subscription (Beg.) |
5,600 |
Income & Expenditure A/c
|
2,88,000 |
Receipts and Payments A/c (total amount received during the year) |
2,97,800 |
Advance Subscription (End) |
10,400 |
Outstanding Subscription (End) |
14,000 |
|
3,17,400 |
|
3,17,400 |
|
|
|
|
WN2: Calculation of Salaries
Particulars |
Amount (Rs) |
Amount paid |
1,08,000 |
Less: Outstanding in the beginning |
30,000 |
Add: Outstanding at the end |
18,000 |
Add: Advance in the beginning |
10,000 |
Less: Advance at the end |
6,000 |
Amount to be shown in I&E A/c |
1,00,000 |
WN3:
Creditors for Sports Material Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Balance b/d (Advance in beg.) |
10,000 |
Balance b/d (Opening Creditors) |
30,000 |
Bank A/c (Amount paid) |
1,08,000 |
Credit Purchases (Bal. Fig.) |
1,00,000 |
Balance c/d (Closing Creditors) |
18,000 |
Balance c/d (Advance at end) |
6,000 |
|
1,36,000 |
|
1,36,000 |
|
|
|
|
Cash Purchases of Sports Material = Rs 20,000 (20% of Credit Purchases)
WN4: Calculation of Sports Material Consumed
Answer:
Income and Expenditure Account for the year ending March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
3,500 |
Subscriptions |
3,900 |
|
||
Rent |
1,200 |
Less: Outstanding in 2013-14 |
(200) |
|
||
Printing and Stationery |
190 |
Less: Advance for 2015-16 |
(150) |
3,550 |
||
Postage |
130 |
Sale of Old Newspapers |
40 |
|||
|
|
Deficit (Balancing Figure) |
1,430 |
|||
|
5,020 |
|
5,020 |
|||
|
|
|
|
Page No 22.67:
Question 31:
Income and Expenditure Account for the year ending March 31, 2015 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
3,500 |
Subscriptions |
3,900 |
|
||
Rent |
1,200 |
Less: Outstanding in 2013-14 |
(200) |
|
||
Printing and Stationery |
190 |
Less: Advance for 2015-16 |
(150) |
3,550 |
||
Postage |
130 |
Sale of Old Newspapers |
40 |
|||
|
|
Deficit (Balancing Figure) |
1,430 |
|||
|
5,020 |
|
5,020 |
|||
|
|
|
|
Answer:
Book of Delhi Nursing Society Income and Expenditure Account for the year ended March 31, 2015 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries of Nurses |
656 |
Subscriptions |
1,115 |
|
|||
Board, Laundry and Domestic Help |
380 |
Less: Donation for Building |
(100) |
1,015 |
|||
Rent Rates and Taxes |
200 |
Fees from Non-members |
270 |
||||
Expenses of Car |
840 |
Municipal Grant |
1,000 |
||||
Drugs and Incidental Expenses |
670 |
|
Interest |
38 |
|||
Add: Outstanding Expenses |
128 |
798 |
Deficit (Balancing Figure) |
551 |
|||
|
2,874 |
|
2,874 |
||||
|
|
|
|
Page No 22.67:
Question 32:
Book of Delhi Nursing Society Income and Expenditure Account for the year ended March 31, 2015 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries of Nurses |
656 |
Subscriptions |
1,115 |
|
|||
Board, Laundry and Domestic Help |
380 |
Less: Donation for Building |
(100) |
1,015 |
|||
Rent Rates and Taxes |
200 |
Fees from Non-members |
270 |
||||
Expenses of Car |
840 |
Municipal Grant |
1,000 |
||||
Drugs and Incidental Expenses |
670 |
|
Interest |
38 |
|||
Add: Outstanding Expenses |
128 |
798 |
Deficit (Balancing Figure) |
551 |
|||
|
2,874 |
|
2,874 |
||||
|
|
|
|
Answer:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Sundry Expenses |
970 |
|
Subscriptions |
5,200 |
|
|
Add: Outstanding Bill |
600 |
1,570 |
Add: Outstanding at the end |
300 |
|
|
|
|
Less: Outstanding in the beginning |
200 |
5,300 |
||
Salaries |
5,000 |
|
Donations |
10,000 |
||
Add: Outstanding at the end |
800 |
5,800 |
Interest on Investments |
240 |
|
|
Match Expenses |
450 |
Add: Accrued Interest |
2,160 |
2,400 |
||
Insurance |
350 |
Receipt from Matches |
8,000 |
|||
Surplus (Excess of Income over Expenditure) |
18,130 |
Lockers Rent |
400 |
|||
|
|
Profit on Sale of Furniture |
200 |
|||
|
26,300 |
|
26,300 |
|||
|
|
|
|
Page No 22.68:
Question 33:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Sundry Expenses |
970 |
|
Subscriptions |
5,200 |
|
|
Add: Outstanding Bill |
600 |
1,570 |
Add: Outstanding at the end |
300 |
|
|
|
|
Less: Outstanding in the beginning |
200 |
5,300 |
||
Salaries |
5,000 |
|
Donations |
10,000 |
||
Add: Outstanding at the end |
800 |
5,800 |
Interest on Investments |
240 |
|
|
Match Expenses |
450 |
Add: Accrued Interest |
2,160 |
2,400 |
||
Insurance |
350 |
Receipt from Matches |
8,000 |
|||
Surplus (Excess of Income over Expenditure) |
18,130 |
Lockers Rent |
400 |
|||
|
|
Profit on Sale of Furniture |
200 |
|||
|
26,300 |
|
26,300 |
|||
|
|
|
|
Answer:
Books of You Bee Forty Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2015 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries and Wages |
16,000 |
|
Subscriptions |
35,000 |
|
||
Add: Outstanding |
4,000 |
20,000 |
Add: Outstanding for 2014-15 |
5,500 |
40,500 |
||
Office Expenses |
3,500 |
Donations |
5,000 |
||||
Telephone Charges |
2,400 |
|
|
||||
Electricity Charges |
3,200 |
|
|
||||
Travelling Expenses |
6,500 |
|
|
||||
Depreciation on Sports Equipments (34,000 × 25%) |
8,500 |
|
|
||||
Surplus (Balancing Figure) |
1,400 |
|
|
||||
|
45,500 |
|
45,500 |
||||
|
|
|
|
Page No 22.68:
Question 34:
Books of You Bee Forty Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2015 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries and Wages |
16,000 |
|
Subscriptions |
35,000 |
|
||
Add: Outstanding |
4,000 |
20,000 |
Add: Outstanding for 2014-15 |
5,500 |
40,500 |
||
Office Expenses |
3,500 |
Donations |
5,000 |
||||
Telephone Charges |
2,400 |
|
|
||||
Electricity Charges |
3,200 |
|
|
||||
Travelling Expenses |
6,500 |
|
|
||||
Depreciation on Sports Equipments (34,000 × 25%) |
8,500 |
|
|
||||
Surplus (Balancing Figure) |
1,400 |
|
|
||||
|
45,500 |
|
45,500 |
||||
|
|
|
|
Answer:
Delhi Football Club
Income and Expenditure Account
for the year ending March 31, 2014
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs) |
||
Match Expenses (9,000 – 8,000)
|
1,000
|
Subscription (550 ×10)
|
5,500
|
||
Sundry Expenses
|
470
|
Profit on Sale of Furniture
|
2,000
|
||
Salaries paid
|
7,000
|
|
Interest on Investment
|
1,000
|
|
Add: Salaries Outstanding at the end
|
500
|
|
Add: Accrued Interest
|
200
|
1,200
|
Less: Salaries Outstanding in the beginning
|
1,000
|
6,500
|
Locker Rent
|
400
|
|
Insurance
|
350
|
General Donation
|
5,000
|
||
Surplus (Excess of Income over Expenditure)
|
5,780
|
|
|
||
|
14,100
|
|
14,100
|
||
|
|
|
|
Calculation of Accrued Interest on Investment
Page No 22.69:
Question 35:
Delhi Football Club
Income and Expenditure Account
for the year ending March 31, 2014
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs) |
||
Match Expenses (9,000 – 8,000)
|
1,000
|
Subscription (550 ×10)
|
5,500
|
||
Sundry Expenses
|
470
|
Profit on Sale of Furniture
|
2,000
|
||
Salaries paid
|
7,000
|
|
Interest on Investment
|
1,000
|
|
Add: Salaries Outstanding at the end
|
500
|
|
Add: Accrued Interest
|
200
|
1,200
|
Less: Salaries Outstanding in the beginning
|
1,000
|
6,500
|
Locker Rent
|
400
|
|
Insurance
|
350
|
General Donation
|
5,000
|
||
Surplus (Excess of Income over Expenditure)
|
5,780
|
|
|
||
|
14,100
|
|
14,100
|
||
|
|
|
|
Calculation of Accrued Interest on Investment
Answer:
Books of Royal Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rent and Rates |
168 |
|
|
|
|||
Less: Outstanding Rent in the beginning |
(60) |
|
Subscriptions |
1,600 |
|
||
Add: Outstanding Rent at the end |
60 |
168 |
Less: Outstanding in the beginning |
(35) |
|
||
Wages |
245 |
Add: Outstanding at the end |
45 |
1,610 |
|||
Lighting Charge |
72 |
Donations |
165 |
||||
Lecturer’s Fee |
435 |
Profit on Entertainment |
56 |
||||
Office Expenses |
450 |
Interest Accrued on Fixed Deposits |
12 |
||||
Depreciation on: |
|
(800 × 3% × 6/12) |
|
||||
Books |
113 |
|
|
|
|||
Furniture |
50 |
163 |
|
|
|||
Surplus (Balancing Figure) |
310 |
|
|
||||
|
1,843 |
|
1,843 |
||||
|
|
|
|
||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Outstanding Rent |
60 |
Books |
2,000 |
Capital Fund (Balancing Figure) |
3,144 |
Furniture |
850 |
|
|
Subscriptions Outstanding |
35 |
|
|
Cash and Bank |
319 |
|
3,204 |
|
3,204 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Rent Outstanding |
60 |
Subscriptions Outstanding |
45 |
||
Capital Fund |
3,144 |
|
Books |
2,000 |
|
Add: Life Membership Fees |
250 |
|
Add: Purchases |
213 |
|
Add: Surplus |
565 |
3,959 |
Less: Deprecation |
(113) |
2,100 |
|
|
Furniture |
850 |
|
|
|
|
Less: Depreciation |
(50) |
800 |
|
|
|
Fixed Deposits |
800 |
|
|
|
|
Add: Accrued interest |
12 |
812 |
|
|
|
Cash at Bank |
242 |
||
|
|
Cash in Hand |
20 |
||
|
4,019 |
|
4,019 |
||
|
|
|
|
Page No 22.69:
Question 36:
Books of Royal Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rent and Rates |
168 |
|
|
|
|||
Less: Outstanding Rent in the beginning |
(60) |
|
Subscriptions |
1,600 |
|
||
Add: Outstanding Rent at the end |
60 |
168 |
Less: Outstanding in the beginning |
(35) |
|
||
Wages |
245 |
Add: Outstanding at the end |
45 |
1,610 |
|||
Lighting Charge |
72 |
Donations |
165 |
||||
Lecturer’s Fee |
435 |
Profit on Entertainment |
56 |
||||
Office Expenses |
450 |
Interest Accrued on Fixed Deposits |
12 |
||||
Depreciation on: |
|
(800 × 3% × 6/12) |
|
||||
Books |
113 |
|
|
|
|||
Furniture |
50 |
163 |
|
|
|||
Surplus (Balancing Figure) |
310 |
|
|
||||
|
1,843 |
|
1,843 |
||||
|
|
|
|
||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Outstanding Rent |
60 |
Books |
2,000 |
Capital Fund (Balancing Figure) |
3,144 |
Furniture |
850 |
|
|
Subscriptions Outstanding |
35 |
|
|
Cash and Bank |
319 |
|
3,204 |
|
3,204 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Rent Outstanding |
60 |
Subscriptions Outstanding |
45 |
||
Capital Fund |
3,144 |
|
Books |
2,000 |
|
Add: Life Membership Fees |
250 |
|
Add: Purchases |
213 |
|
Add: Surplus |
565 |
3,959 |
Less: Deprecation |
(113) |
2,100 |
|
|
Furniture |
850 |
|
|
|
|
Less: Depreciation |
(50) |
800 |
|
|
|
Fixed Deposits |
800 |
|
|
|
|
Add: Accrued interest |
12 |
812 |
|
|
|
Cash at Bank |
242 |
||
|
|
Cash in Hand |
20 |
||
|
4,019 |
|
4,019 |
||
|
|
|
|
Answer:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
45,000 |
|
Subscription (3,000 × 100) |
3,00,000 |
||
Add: Outstanding at the end |
5,000 |
|
Rent for Hall |
4,500 |
||
Less: Outstanding in the beginning |
3,000 |
47,000 |
Sale of Old Newspapers |
500 |
||
General Expenses |
10,000 |
|
|
|||
Electricity Charges |
15,000 |
|
|
|||
Newspapers |
2,000 |
|
|
|||
Depreciation: |
|
|
|
|||
Building |
10,000 |
|
|
|
||
Furniture |
5,000 |
15,000 |
|
|
||
Sports Material |
1,00,000 |
|
|
|||
Surplus (Excess of Income over Expenditure) |
1,16,000 |
|
|
|||
|
3,05,000 |
|
3,05,000 |
|||
|
|
|
|
|||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital |
|
Cash in Hand |
58,000 |
||
Opening Capital |
2,12,000 |
|
Accrued Subscription |
40,000 |
|
Add: Surplus |
1,16,000 |
3,28,000 |
Building |
1,00,000 |
|
Outstanding Salary |
5,000 |
Less: Depreciation |
10,000 |
90,000 |
|
Subscription received in advance |
20,000 |
Furniture |
50,000 |
|
|
|
|
Less: Depreciation |
5,000 |
45,000 |
|
|
|
Books |
20,000 |
||
|
|
10% Investments |
1,00,000 |
||
|
3,53,000 |
|
3,53,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Outstanding Salary |
3,000 |
Cash in Hand |
35,000 |
Capital Fund (Bal. Fig.) |
2,12,000 |
Accrued Subscription |
10,000 |
|
|
Building |
1,00,000 |
|
|
Furniture |
50,000 |
|
|
Books |
20,000 |
|
2,15,000 |
|
2,15,000 |
|
|
|
|
Page No 22.70:
Question 37:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
45,000 |
|
Subscription (3,000 × 100) |
3,00,000 |
||
Add: Outstanding at the end |
5,000 |
|
Rent for Hall |
4,500 |
||
Less: Outstanding in the beginning |
3,000 |
47,000 |
Sale of Old Newspapers |
500 |
||
General Expenses |
10,000 |
|
|
|||
Electricity Charges |
15,000 |
|
|
|||
Newspapers |
2,000 |
|
|
|||
Depreciation: |
|
|
|
|||
Building |
10,000 |
|
|
|
||
Furniture |
5,000 |
15,000 |
|
|
||
Sports Material |
1,00,000 |
|
|
|||
Surplus (Excess of Income over Expenditure) |
1,16,000 |
|
|
|||
|
3,05,000 |
|
3,05,000 |
|||
|
|
|
|
|||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital |
|
Cash in Hand |
58,000 |
||
Opening Capital |
2,12,000 |
|
Accrued Subscription |
40,000 |
|
Add: Surplus |
1,16,000 |
3,28,000 |
Building |
1,00,000 |
|
Outstanding Salary |
5,000 |
Less: Depreciation |
10,000 |
90,000 |
|
Subscription received in advance |
20,000 |
Furniture |
50,000 |
|
|
|
|
Less: Depreciation |
5,000 |
45,000 |
|
|
|
Books |
20,000 |
||
|
|
10% Investments |
1,00,000 |
||
|
3,53,000 |
|
3,53,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Outstanding Salary |
3,000 |
Cash in Hand |
35,000 |
Capital Fund (Bal. Fig.) |
2,12,000 |
Accrued Subscription |
10,000 |
|
|
Building |
1,00,000 |
|
|
Furniture |
50,000 |
|
|
Books |
20,000 |
|
2,15,000 |
|
2,15,000 |
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
2,800 |
|
Subscription (50 members × Rs 50 each) |
2,500 |
||
Add: Outstanding for 2015-16 |
200 |
|
Rent Received from the use of hall |
1,400 |
||
Less: Outstanding for 2016-17 |
(600) |
2,400 |
Profit from Entertainment |
800 |
||
General Expenses |
600 |
Sale of Old Newspapers |
200 |
|||
Electricity Charges |
400 |
|
|
|||
Newspapers |
800 |
|
|
|||
Depreciation on Furniture (2,000 × 10%) |
200 |
|
|
|||
Surplus (Balancing Figure) |
500 |
|
|
|||
|
4,900 |
|
4,900 |
|||
|
|
|
|
|||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Salaries Outstanding |
600 |
Subscriptions Outstanding |
600 |
Capital Fund (Balancing Figure) |
24,700 |
Building |
20,000 |
|
|
Furniture |
2,000 |
|
|
Books |
2,000 |
|
|
Cash and Bank |
700 |
|
25,300 |
|
25,300 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
400 |
Subscription Outstanding |
|
||
Salaries Outstanding |
200 |
For 2015-16 (2,500 - 2,000) |
500 |
|
|
Capital Fund |
24,700 |
|
For 2014-15 (600 - 500) |
100 |
600 |
Add: Surplus |
500 |
25,200 |
Building |
20,000 |
|
|
|
Furniture |
2,000 |
|
|
|
|
Less: 10% Depreciation |
(200) |
1,800 |
|
|
|
Books |
2,000 |
|
|
|
|
Add: Purchases |
1,000 |
3,000 |
|
|
|
Cash and Bank |
400 |
||
|
25,800 |
|
25,800 |
||
|
|
|
|
Page No 22.70:
Question 38:
Income and Expenditure Account for the year ended March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
2,800 |
|
Subscription (50 members × Rs 50 each) |
2,500 |
||
Add: Outstanding for 2015-16 |
200 |
|
Rent Received from the use of hall |
1,400 |
||
Less: Outstanding for 2016-17 |
(600) |
2,400 |
Profit from Entertainment |
800 |
||
General Expenses |
600 |
Sale of Old Newspapers |
200 |
|||
Electricity Charges |
400 |
|
|
|||
Newspapers |
800 |
|
|
|||
Depreciation on Furniture (2,000 × 10%) |
200 |
|
|
|||
Surplus (Balancing Figure) |
500 |
|
|
|||
|
4,900 |
|
4,900 |
|||
|
|
|
|
|||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Salaries Outstanding |
600 |
Subscriptions Outstanding |
600 |
Capital Fund (Balancing Figure) |
24,700 |
Building |
20,000 |
|
|
Furniture |
2,000 |
|
|
Books |
2,000 |
|
|
Cash and Bank |
700 |
|
25,300 |
|
25,300 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
400 |
Subscription Outstanding |
|
||
Salaries Outstanding |
200 |
For 2015-16 (2,500 - 2,000) |
500 |
|
|
Capital Fund |
24,700 |
|
For 2014-15 (600 - 500) |
100 |
600 |
Add: Surplus |
500 |
25,200 |
Building |
20,000 |
|
|
|
Furniture |
2,000 |
|
|
|
|
Less: 10% Depreciation |
(200) |
1,800 |
|
|
|
Books |
2,000 |
|
|
|
|
Add: Purchases |
1,000 |
3,000 |
|
|
|
Cash and Bank |
400 |
||
|
25,800 |
|
25,800 |
||
|
|
|
|
Answer:
Books of Madura Club
|
||||||
Income and Expenditure Account
for the year ended March 31, 2016
|
||||||
Dr.
|
|
Cr. |
||||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs)
|
|||
Salaries
|
12,450
|
Subscriptions (450 members × Rs 30)
|
13,500
|
|||
Stationery
|
2,400
|
|
Profit from Canteen
|
9,000
|
||
Add: Opening Stock
|
300
|
|
Miscellaneous Receipts
|
450
|
||
Less: Closing Stock
|
(540)
|
2,160
|
Sale of Old Newspapers
|
1,120
|
||
Rates and Taxes
|
3,600
|
Dividends
|
4,850
|
|||
Telephone
|
600
|
|
|
|||
Advertisements
|
1,050
|
|
|
|||
Postage
|
1,000
|
|
|
|||
Sundries
|
3,500
|
|
|
|||
Depreciation on Building
|
3,000
|
|
|
|||
Surplus (Balancing Figure)
|
1,560
|
|
|
|||
|
28,920
|
|
28,920
|
|||
|
|
|
|
Balance Sheet
as on April 01, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
Capital Fund
(Balancing Figure) |
66,570
|
Subscriptions Outstanding
|
270
|
|
|
Stationery
|
300
|
|
|
Building
|
60,000
|
|
|
Cash and Bank
|
6,000
|
|
66,570
|
|
66,570
|
|
|
|
|
Balance Sheet
as on March 31, 2016
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
||
Advance Subscriptions
|
480
|
Subscriptions Outstanding
|
|
||
Capital Fund
|
66,570
|
|
For 2015-16 (13,500 –12,660)
|
840
|
|
Add: Surplus
|
1,560
|
68,130
|
For 2014-15 (270 – 240)
|
30
|
870
|
|
|
Building
|
60,000
|
|
|
|
|
Less: 5% Depreciation
|
(3,000)
|
57,000
|
|
|
|
Stock of Stationery
|
540
|
||
|
|
Investments
|
7,500
|
||
|
|
Cash and Bank
|
2,700
|
||
|
68,610
|
|
68,610
|
||
|
|
|
|
Page No 22.71:
Question 39:
Books of Madura Club
|
||||||
Income and Expenditure Account
for the year ended March 31, 2016
|
||||||
Dr.
|
|
Cr. |
||||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs)
|
|||
Salaries
|
12,450
|
Subscriptions (450 members × Rs 30)
|
13,500
|
|||
Stationery
|
2,400
|
|
Profit from Canteen
|
9,000
|
||
Add: Opening Stock
|
300
|
|
Miscellaneous Receipts
|
450
|
||
Less: Closing Stock
|
(540)
|
2,160
|
Sale of Old Newspapers
|
1,120
|
||
Rates and Taxes
|
3,600
|
Dividends
|
4,850
|
|||
Telephone
|
600
|
|
|
|||
Advertisements
|
1,050
|
|
|
|||
Postage
|
1,000
|
|
|
|||
Sundries
|
3,500
|
|
|
|||
Depreciation on Building
|
3,000
|
|
|
|||
Surplus (Balancing Figure)
|
1,560
|
|
|
|||
|
28,920
|
|
28,920
|
|||
|
|
|
|
Balance Sheet
as on April 01, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
Capital Fund
(Balancing Figure) |
66,570
|
Subscriptions Outstanding
|
270
|
|
|
Stationery
|
300
|
|
|
Building
|
60,000
|
|
|
Cash and Bank
|
6,000
|
|
66,570
|
|
66,570
|
|
|
|
|
Balance Sheet
as on March 31, 2016
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
||
Advance Subscriptions
|
480
|
Subscriptions Outstanding
|
|
||
Capital Fund
|
66,570
|
|
For 2015-16 (13,500 –12,660)
|
840
|
|
Add: Surplus
|
1,560
|
68,130
|
For 2014-15 (270 – 240)
|
30
|
870
|
|
|
Building
|
60,000
|
|
|
|
|
Less: 5% Depreciation
|
(3,000)
|
57,000
|
|
|
|
Stock of Stationery
|
540
|
||
|
|
Investments
|
7,500
|
||
|
|
Cash and Bank
|
2,700
|
||
|
68,610
|
|
68,610
|
||
|
|
|
|
Answer:
Delhi Sports Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Loss on Sale of Furniture |
480 |
Subscription |
27,360 |
|
|
Balls Consumed |
9,120 |
Add: Outstanding at the end |
1,920 |
29,280 |
|
Rent for Playground |
600 |
|
Interest |
240 |
|
Add: Rent Outstanding (2015-16) |
720 |
|
Add: Accrued Interest |
60 |
300 |
Less: Rent Outstanding (2014-15) |
600 |
720 |
|
|
|
Affiliation Fees |
240 |
|
|
||
Tournament Fees |
1,200 |
|
|
||
Refreshment |
480 |
|
|
||
Travelling Expenses |
3,600 |
|
|
||
Misc. Expenses |
960 |
|
|
||
Salaries |
1,440 |
|
|
|
|
Add: Salaries Outstanding |
600 |
2,040 |
|
|
|
Surplus (Excess of Income over Expenditure) |
10,740 |
|
|
||
|
29,580 |
|
29,580 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund: |
|
Investment |
12,000 |
|
Opening Balance |
8,040 |
|
Stock of Balls |
480 |
Add: Surplus |
10,740 |
18,780 |
Cash |
13,800 |
Donation for Club Building |
7,200 |
Accrued Interest |
60 |
|
Subscription Received in Advance |
960 |
Subscription Outstanding |
1,920 |
|
Rent Outstanding |
720 |
|
|
|
Salaries Outstanding |
600 |
|
|
|
|
28,260 |
|
28,260 |
|
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Rent Outstanding |
600 |
Furniture |
1,680 |
Capital Fund (Balancing Figure) |
8,040 |
Subscription Outstanding |
1,200 |
|
|
Cash |
5,760 |
|
8,640 |
|
8,640 |
|
|
|
|
WN2: Calculation of Stock of Balls Consumed
Particulars |
Amount (Rs) |
Purchases |
9,600 |
Less: Closing Stock |
480 |
Stock of Balls consumed during the year |
9,120 |
|
|
Page No 22.71:
Question 40:
Delhi Sports Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Loss on Sale of Furniture |
480 |
Subscription |
27,360 |
|
|
Balls Consumed |
9,120 |
Add: Outstanding at the end |
1,920 |
29,280 |
|
Rent for Playground |
600 |
|
Interest |
240 |
|
Add: Rent Outstanding (2015-16) |
720 |
|
Add: Accrued Interest |
60 |
300 |
Less: Rent Outstanding (2014-15) |
600 |
720 |
|
|
|
Affiliation Fees |
240 |
|
|
||
Tournament Fees |
1,200 |
|
|
||
Refreshment |
480 |
|
|
||
Travelling Expenses |
3,600 |
|
|
||
Misc. Expenses |
960 |
|
|
||
Salaries |
1,440 |
|
|
|
|
Add: Salaries Outstanding |
600 |
2,040 |
|
|
|
Surplus (Excess of Income over Expenditure) |
10,740 |
|
|
||
|
29,580 |
|
29,580 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund: |
|
Investment |
12,000 |
|
Opening Balance |
8,040 |
|
Stock of Balls |
480 |
Add: Surplus |
10,740 |
18,780 |
Cash |
13,800 |
Donation for Club Building |
7,200 |
Accrued Interest |
60 |
|
Subscription Received in Advance |
960 |
Subscription Outstanding |
1,920 |
|
Rent Outstanding |
720 |
|
|
|
Salaries Outstanding |
600 |
|
|
|
|
28,260 |
|
28,260 |
|
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Rent Outstanding |
600 |
Furniture |
1,680 |
Capital Fund (Balancing Figure) |
8,040 |
Subscription Outstanding |
1,200 |
|
|
Cash |
5,760 |
|
8,640 |
|
8,640 |
|
|
|
|
WN2: Calculation of Stock of Balls Consumed
Particulars |
Amount (Rs) |
Purchases |
9,600 |
Less: Closing Stock |
480 |
Stock of Balls consumed during the year |
9,120 |
|
|
Answer:
Income and Expenditure Account
for the year ending March 31,2016
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount (Rs)
|
||
Wages
|
1,50,000
|
Subscription
|
2,20,000
|
|
|
Lighting & Fuel
|
19,000
|
Add: Outstanding at the end
|
21,000
|
2,41,000
|
|
Printing and Postage
|
36,000
|
|
Locker Rent
|
12,000
|
|
Add: Outstanding Bill
|
2,000
|
38,000
|
Add: Accrued Rent
|
2,000
|
14,000
|
Stationery
|
3,000
|
|
|
|
|
Add: Outstanding Stationery
|
3,000
|
6,000
|
Profit on Refreshments
|
53,000
|
|
Taxes and Insurance
|
54,000
|
Interest on Deposits
|
2,000
|
||
Misc. Expenses
|
8,000
|
|
|
||
Surplus (Excess of Income over Expenditure)
|
35,000
|
|
|
||
|
3,10,000
|
|
3,10,000
|
||
|
|
|
|
Balance Sheet
as on March 31, 2016
|
||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
|
Capital Fund:
|
|
Bank Deposit
|
2,00,000
|
|
Opening Balance
|
14,27,000
|
|
Club House Equipment
|
12,00,000
|
Add: Surplus
|
35,000
|
14,62,000
|
Lockers
|
32,000
|
Subscription Received in Advance
|
24,000
|
Accrued Locker Rent
|
2,000
|
|
Stationery Outstanding
|
3,000
|
Subscription Outstanding
|
21,000
|
|
Printing Outstanding
|
2,000
|
Cash
|
52,000
|
|
Entrance Fees | 16,000 | |||
|
15,07,000
|
|
15,07,000
|
|
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet
as on March 31, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs) |
Capital Fund (Balancing Figure)
|
14,27,000
|
Bank Deposit
|
2,00,000
|
|
|
Club House Equipment
|
12,00,000
|
|
|
Cash
|
27,000
|
|
14,27,000
|
|
14,27,000
|
|
|
|
|
Page No 22.72:
Question 41:
Income and Expenditure Account
for the year ending March 31,2016
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount (Rs)
|
||
Wages
|
1,50,000
|
Subscription
|
2,20,000
|
|
|
Lighting & Fuel
|
19,000
|
Add: Outstanding at the end
|
21,000
|
2,41,000
|
|
Printing and Postage
|
36,000
|
|
Locker Rent
|
12,000
|
|
Add: Outstanding Bill
|
2,000
|
38,000
|
Add: Accrued Rent
|
2,000
|
14,000
|
Stationery
|
3,000
|
|
|
|
|
Add: Outstanding Stationery
|
3,000
|
6,000
|
Profit on Refreshments
|
53,000
|
|
Taxes and Insurance
|
54,000
|
Interest on Deposits
|
2,000
|
||
Misc. Expenses
|
8,000
|
|
|
||
Surplus (Excess of Income over Expenditure)
|
35,000
|
|
|
||
|
3,10,000
|
|
3,10,000
|
||
|
|
|
|
Balance Sheet
as on March 31, 2016
|
||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
|
Capital Fund:
|
|
Bank Deposit
|
2,00,000
|
|
Opening Balance
|
14,27,000
|
|
Club House Equipment
|
12,00,000
|
Add: Surplus
|
35,000
|
14,62,000
|
Lockers
|
32,000
|
Subscription Received in Advance
|
24,000
|
Accrued Locker Rent
|
2,000
|
|
Stationery Outstanding
|
3,000
|
Subscription Outstanding
|
21,000
|
|
Printing Outstanding
|
2,000
|
Cash
|
52,000
|
|
Entrance Fees | 16,000 | |||
|
15,07,000
|
|
15,07,000
|
|
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet
as on March 31, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs) |
Capital Fund (Balancing Figure)
|
14,27,000
|
Bank Deposit
|
2,00,000
|
|
|
Club House Equipment
|
12,00,000
|
|
|
Cash
|
27,000
|
|
14,27,000
|
|
14,27,000
|
|
|
|
|
Answer:
Books of Modern Social Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Depreciation on: |
|
Subscriptions |
24,000 |
|
|||
Furniture and Fittings |
1,500 |
|
Add: Outstanding |
1,200 |
|
||
Games Equipments |
2,000 |
3,500 |
Less: Advance |
(500) |
24,700 |
||
Prizes |
2,200 |
Profit on Dance Show |
14,800 |
||||
Rent |
10,500 |
|
Competition Fees |
1,800 |
|||
Less: Rent in Advance |
(1,500) |
9,000 |
Sale of Refreshment |
8,200 |
|||
Rates |
3,000 |
Match Collections |
2,500 |
||||
Printing |
1,600 |
|
|
|
|||
Add: Outstanding |
400 |
2,000 |
|
|
|||
Stationery |
2,200 |
|
|
||||
Postages |
1,900 |
|
|
||||
Secretary’s Expenses |
1,400 |
|
|
||||
Repairs |
2,700 |
|
|
||||
Wages |
12,000 |
|
|
||||
Refreshments |
5,100 |
|
|
|
|||
Add: Outstanding |
700 |
5,800 |
|
|
|||
Excess of Income over Expenditure |
6,300 |
|
|
||||
(Balancing Figure) |
|
|
|
||||
|
52,000 |
|
52,000 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund |
42,000 |
|
Furniture and Fillings |
15,000 |
|
Add: Excess of Income Over Expenditure |
6,300 |
48,300 |
Less: 10% Depreciation |
(1,500) |
13,500 |
Outstanding for Printing |
400 |
Games Equipments |
20,000 |
|
|
Outstanding for Refreshments |
700 |
Less:10% Depreciation |
(2,000) |
|
|
Subscription in advance |
500 |
|
18,000 |
|
|
|
|
Add: Purchases |
2,000 |
20,000 |
|
|
|
Rent Paid in Advance |
1,500 |
||
|
|
Subscriptions Outstanding |
1,200 |
||
|
|
Cash and Bank |
13,700 |
||
|
49,900 |
|
49,900 |
||
|
|
|
|
Page No 22.72:
Question 42:
Books of Modern Social Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Depreciation on: |
|
Subscriptions |
24,000 |
|
|||
Furniture and Fittings |
1,500 |
|
Add: Outstanding |
1,200 |
|
||
Games Equipments |
2,000 |
3,500 |
Less: Advance |
(500) |
24,700 |
||
Prizes |
2,200 |
Profit on Dance Show |
14,800 |
||||
Rent |
10,500 |
|
Competition Fees |
1,800 |
|||
Less: Rent in Advance |
(1,500) |
9,000 |
Sale of Refreshment |
8,200 |
|||
Rates |
3,000 |
Match Collections |
2,500 |
||||
Printing |
1,600 |
|
|
|
|||
Add: Outstanding |
400 |
2,000 |
|
|
|||
Stationery |
2,200 |
|
|
||||
Postages |
1,900 |
|
|
||||
Secretary’s Expenses |
1,400 |
|
|
||||
Repairs |
2,700 |
|
|
||||
Wages |
12,000 |
|
|
||||
Refreshments |
5,100 |
|
|
|
|||
Add: Outstanding |
700 |
5,800 |
|
|
|||
Excess of Income over Expenditure |
6,300 |
|
|
||||
(Balancing Figure) |
|
|
|
||||
|
52,000 |
|
52,000 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund |
42,000 |
|
Furniture and Fillings |
15,000 |
|
Add: Excess of Income Over Expenditure |
6,300 |
48,300 |
Less: 10% Depreciation |
(1,500) |
13,500 |
Outstanding for Printing |
400 |
Games Equipments |
20,000 |
|
|
Outstanding for Refreshments |
700 |
Less:10% Depreciation |
(2,000) |
|
|
Subscription in advance |
500 |
|
18,000 |
|
|
|
|
Add: Purchases |
2,000 |
20,000 |
|
|
|
Rent Paid in Advance |
1,500 |
||
|
|
Subscriptions Outstanding |
1,200 |
||
|
|
Cash and Bank |
13,700 |
||
|
49,900 |
|
49,900 |
||
|
|
|
|
Answer:
Eko Youth Club
Income and Expenditure Account
for the year ending March 31, 2016
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount (Rs)
|
||
Depreciation on:
|
|
Subscription
|
52,000
|
|
|
Furniture
|
15,000
|
|
Add: Outstanding at the end
|
2,000
|
|
Games Equipment
|
7,000
|
|
Less: Outstanding in the beginning
|
3,000
|
51,000
|
Tools and Hobbies Equipment
|
5,000
|
27,000
|
General Donation
|
50,000
|
|
Repairs
|
14,000
|
|
Sale of Tickets of Fete
|
59,000
|
|
Add: Outstanding Repairs
|
3,000
|
17,000
|
Sale of Dance Tickets
|
67,000
|
|
Insurance
|
12,000
|
|
|
|
|
Less: Prepaid at the end
|
3,000
|
|
|
|
|
Add: Prepaid in the beginning
|
2,000
|
11,000
|
|
|
|
Electricity
|
27,000
|
|
|
||
Expenses on Annual Fete
|
31,000
|
|
|
||
Expenses on Dance
|
27,000
|
|
|
||
Cleaner’s Wages
|
52,000
|
|
|
||
Printing & Stationery
|
5,000
|
|
|
||
Surplus (Excess of Income over Expenditure)
|
30,000
|
|
|
||
|
2,27,000
|
|
2,27,000
|
||
|
|
|
|
Balance Sheet
as on March 31, 2016
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
||
Capital Fund:
|
|
Games Equipment
|
64,000
|
|
|
Opening Balance
|
3,06,000
|
|
Add: Purchases
|
6,000
|
|
Add: Surplus
|
30,000
|
3,36,000
|
Less: Depreciation
|
7,000
|
63,000
|
Repairs Outstanding
|
3,000
|
Furniture
|
1,50,000
|
|
|
|
|
Less: Depreciation
|
15,000
|
1,35,000
|
|
|
|
Tools and Hobbies Equipment
|
41,000
|
|
|
|
|
Add: Purchases
|
9,000
|
|
|
|
|
Less: Depreciation
|
5,000
|
45,000
|
|
|
|
Subscription Outstanding
|
2,000
|
||
|
|
Prepaid Insurance
|
3,000
|
||
|
|
Cash
|
91,000
|
||
|
3,39,000
|
|
3,39,000
|
||
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet
as on March 31, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
Capital Fund
(Balancing Figure) |
3,06,000
|
Furniture and Fittings
|
1,50,000
|
|
|
Games Equipment
|
64,000
|
|
|
Cash
|
46,000
|
|
|
Tools and Hobbies Equipments
|
41,000
|
|
|
Subscription Outstanding
|
3,000
|
|
|
Prepaid Insurance
|
2,000
|
|
3,06,000
|
|
3,06,000
|
|
|
|
|
WN2: Calculation of Prepaid Insurance
Page No 22.73:
Question 43:
Eko Youth Club
Income and Expenditure Account
for the year ending March 31, 2016
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount (Rs)
|
||
Depreciation on:
|
|
Subscription
|
52,000
|
|
|
Furniture
|
15,000
|
|
Add: Outstanding at the end
|
2,000
|
|
Games Equipment
|
7,000
|
|
Less: Outstanding in the beginning
|
3,000
|
51,000
|
Tools and Hobbies Equipment
|
5,000
|
27,000
|
General Donation
|
50,000
|
|
Repairs
|
14,000
|
|
Sale of Tickets of Fete
|
59,000
|
|
Add: Outstanding Repairs
|
3,000
|
17,000
|
Sale of Dance Tickets
|
67,000
|
|
Insurance
|
12,000
|
|
|
|
|
Less: Prepaid at the end
|
3,000
|
|
|
|
|
Add: Prepaid in the beginning
|
2,000
|
11,000
|
|
|
|
Electricity
|
27,000
|
|
|
||
Expenses on Annual Fete
|
31,000
|
|
|
||
Expenses on Dance
|
27,000
|
|
|
||
Cleaner’s Wages
|
52,000
|
|
|
||
Printing & Stationery
|
5,000
|
|
|
||
Surplus (Excess of Income over Expenditure)
|
30,000
|
|
|
||
|
2,27,000
|
|
2,27,000
|
||
|
|
|
|
Balance Sheet
as on March 31, 2016
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
||
Capital Fund:
|
|
Games Equipment
|
64,000
|
|
|
Opening Balance
|
3,06,000
|
|
Add: Purchases
|
6,000
|
|
Add: Surplus
|
30,000
|
3,36,000
|
Less: Depreciation
|
7,000
|
63,000
|
Repairs Outstanding
|
3,000
|
Furniture
|
1,50,000
|
|
|
|
|
Less: Depreciation
|
15,000
|
1,35,000
|
|
|
|
Tools and Hobbies Equipment
|
41,000
|
|
|
|
|
Add: Purchases
|
9,000
|
|
|
|
|
Less: Depreciation
|
5,000
|
45,000
|
|
|
|
Subscription Outstanding
|
2,000
|
||
|
|
Prepaid Insurance
|
3,000
|
||
|
|
Cash
|
91,000
|
||
|
3,39,000
|
|
3,39,000
|
||
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet
as on March 31, 2015
|
|||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount (Rs)
|
Capital Fund
(Balancing Figure) |
3,06,000
|
Furniture and Fittings
|
1,50,000
|
|
|
Games Equipment
|
64,000
|
|
|
Cash
|
46,000
|
|
|
Tools and Hobbies Equipments
|
41,000
|
|
|
Subscription Outstanding
|
3,000
|
|
|
Prepaid Insurance
|
2,000
|
|
3,06,000
|
|
3,06,000
|
|
|
|
|
WN2: Calculation of Prepaid Insurance
Answer:
Prince Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Depreciation on: |
|
Subscription |
18,000 |
|
|
Furniture |
850 |
|
Add: Outstanding at the end |
550 |
|
Books |
2,248 |
3,098 |
Less: Outstanding at the beginning |
350 |
18,200 |
Lighting Charges |
720 |
Donation |
1,650 |
||
Tournament Expenses |
2,020 |
|
|
||
Rent |
1,680 |
|
Proceeds of Tournament |
2,320 |
|
Less: Prepaid (2015-16) |
420 |
|
Interest on Deposit |
240 |
|
Add: Prepaid (2014-15) |
420 |
1,680 |
Add: Accrued Interest |
240 |
480 |
Expenses on Annual Fete |
|
|
|
||
Office Expenses |
4,500 |
|
|
||
Wages |
2,450 |
|
|
||
Surplus (Excess of Income over Expenditure) |
8,182 |
|
|
||
|
22,650 |
|
22,650 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund: |
|
Books |
20,000 |
|
|
Opening Balance |
32,460 |
|
Add: Purchases |
2,480 |
|
Add: Surplus |
8,182 |
40,642 |
Less: Depreciation |
2,248 |
20,232 |
Life Membership Fees |
2,500 |
Furniture |
8,500 |
|
|
Entrance Fees |
550 |
Less: Depreciation |
850 |
7,650 |
|
|
|
8% Fixed Deposit |
12,000 |
||
|
|
Accrued Interest |
240 |
||
|
|
Subscription Outstanding |
550 |
||
|
|
Prepaid Rent |
420 |
||
|
|
Cash |
2,600 |
||
|
43,692 |
|
43,692 |
||
|
|
|
|
Working Notes:
Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund (Balancing Figure) |
32,460 |
Furniture |
8,500 |
|
|
Books |
20,000 |
|
|
Cash |
3,190 |
|
|
Subscription Outstanding |
350 |
|
|
Prepaid Rent |
420 |
|
32,460 |
|
32,460 |
|
|
|
|
Page No 22.73:
Question 44:
Prince Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Depreciation on: |
|
Subscription |
18,000 |
|
|
Furniture |
850 |
|
Add: Outstanding at the end |
550 |
|
Books |
2,248 |
3,098 |
Less: Outstanding at the beginning |
350 |
18,200 |
Lighting Charges |
720 |
Donation |
1,650 |
||
Tournament Expenses |
2,020 |
|
|
||
Rent |
1,680 |
|
Proceeds of Tournament |
2,320 |
|
Less: Prepaid (2015-16) |
420 |
|
Interest on Deposit |
240 |
|
Add: Prepaid (2014-15) |
420 |
1,680 |
Add: Accrued Interest |
240 |
480 |
Expenses on Annual Fete |
|
|
|
||
Office Expenses |
4,500 |
|
|
||
Wages |
2,450 |
|
|
||
Surplus (Excess of Income over Expenditure) |
8,182 |
|
|
||
|
22,650 |
|
22,650 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund: |
|
Books |
20,000 |
|
|
Opening Balance |
32,460 |
|
Add: Purchases |
2,480 |
|
Add: Surplus |
8,182 |
40,642 |
Less: Depreciation |
2,248 |
20,232 |
Life Membership Fees |
2,500 |
Furniture |
8,500 |
|
|
Entrance Fees |
550 |
Less: Depreciation |
850 |
7,650 |
|
|
|
8% Fixed Deposit |
12,000 |
||
|
|
Accrued Interest |
240 |
||
|
|
Subscription Outstanding |
550 |
||
|
|
Prepaid Rent |
420 |
||
|
|
Cash |
2,600 |
||
|
43,692 |
|
43,692 |
||
|
|
|
|
Working Notes:
Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund (Balancing Figure) |
32,460 |
Furniture |
8,500 |
|
|
Books |
20,000 |
|
|
Cash |
3,190 |
|
|
Subscription Outstanding |
350 |
|
|
Prepaid Rent |
420 |
|
32,460 |
|
32,460 |
|
|
|
|
Answer:
Books of Gymkhana Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rent |
26,000 |
|
Locker Rent |
2,500 |
|
||
Less: Outstanding for 2014-15 |
(6,500) |
|
Less: Outstanding for 2014-15 |
(300) |
|
||
Add: Outstanding for 2015-16 |
6,500 |
26,000 |
Add: Outstanding for 2015-16 |
450 |
2,650 |
||
Stationery and Postage etc. |
15,340 |
|
|
|
|||
Less: Outstanding for 2014-15 |
(1,560) |
|
Subscriptions (2015-16) |
84,500 |
|
||
Add: Outstanding for 2015-16 |
1,820 |
15,600 |
Add: Outstanding for 2015-16 |
2,340 |
86,840 |
||
Wages |
26,650 |
|
|
||||
Repairs and Renewals |
4,030 |
|
|
||||
Interest |
7,500 |
|
|
||||
Excess of Income over Expenditure |
9,710 |
|
|
||||
(Balancing Figure) |
|
|
|
||||
|
89,490 |
|
89,490 |
||||
|
|
|
|
||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Rent Outstanding |
6,500 |
Cash and Bank |
1,500 |
Stationery Outstanding |
1,560 |
Lock Rent Outstanding |
300 |
|
|
Subscriptions Outstanding |
1,000 |
|
|
Deficiency (Balancing Figure) |
5,260 |
|
8,060 |
|
8,060 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Rent Outstanding |
6,500 |
Cash and Bank |
11,980 |
|
Stationery Outstanding |
1,820 |
Lock Rent Outstanding |
450 |
|
Capital Fund |
(5,260) |
|
Subscriptions Outstanding |
2,340 |
Add: Excess of Income over Expenditure |
9,710 |
4,450 |
Billiards Table |
19,500 |
Special Subscriptions for Tournament |
17,250 |
|
|
|
Entrance Fees | 2,750 | |||
Subscriptions in Advance |
1,500 |
|
|
|
|
34,270 |
|
34,270 |
|
|
|
|
|
Page No 22.74:
Question 45:
Books of Gymkhana Club |
|||||||
Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rent |
26,000 |
|
Locker Rent |
2,500 |
|
||
Less: Outstanding for 2014-15 |
(6,500) |
|
Less: Outstanding for 2014-15 |
(300) |
|
||
Add: Outstanding for 2015-16 |
6,500 |
26,000 |
Add: Outstanding for 2015-16 |
450 |
2,650 |
||
Stationery and Postage etc. |
15,340 |
|
|
|
|||
Less: Outstanding for 2014-15 |
(1,560) |
|
Subscriptions (2015-16) |
84,500 |
|
||
Add: Outstanding for 2015-16 |
1,820 |
15,600 |
Add: Outstanding for 2015-16 |
2,340 |
86,840 |
||
Wages |
26,650 |
|
|
||||
Repairs and Renewals |
4,030 |
|
|
||||
Interest |
7,500 |
|
|
||||
Excess of Income over Expenditure |
9,710 |
|
|
||||
(Balancing Figure) |
|
|
|
||||
|
89,490 |
|
89,490 |
||||
|
|
|
|
||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Rent Outstanding |
6,500 |
Cash and Bank |
1,500 |
Stationery Outstanding |
1,560 |
Lock Rent Outstanding |
300 |
|
|
Subscriptions Outstanding |
1,000 |
|
|
Deficiency (Balancing Figure) |
5,260 |
|
8,060 |
|
8,060 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Rent Outstanding |
6,500 |
Cash and Bank |
11,980 |
|
Stationery Outstanding |
1,820 |
Lock Rent Outstanding |
450 |
|
Capital Fund |
(5,260) |
|
Subscriptions Outstanding |
2,340 |
Add: Excess of Income over Expenditure |
9,710 |
4,450 |
Billiards Table |
19,500 |
Special Subscriptions for Tournament |
17,250 |
|
|
|
Entrance Fees | 2,750 | |||
Subscriptions in Advance |
1,500 |
|
|
|
|
34,270 |
|
34,270 |
|
|
|
|
|
Answer:
Income and Expenditure account for the year ended March 31, 2016 |
||||||
Dr. |
|
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Maintenance |
6,820 |
Subscription |
40,000 |
|
||
Match Expenses |
13,240 |
Less: Outstanding for 2014-15 |
(6,000) |
|
||
Salaries |
11,000 |
|
Add: Outstanding for 2015-16 |
8,000 |
42,000 |
|
Add: Outstanding (11,000/11) |
1,000 |
12,000 |
|
|
||
Conveyance |
820 |
|
|
|||
Upkeep of Loans |
4,240 |
Interest on Fixed Deposits |
900 |
|
||
Postage and Stationery |
1,050 |
|
Add: Accrued Interest |
900 |
1,800 |
|
Add: Opening stock |
750 |
|
Profit on Sale of Crockery (2,000 – 1,200) |
800 |
||
Less: Closing stock |
(900) |
900 |
Deficit |
5,550 |
||
Cricket Goods |
9,720 |
|
|
|
||
Add:Opening Stock |
3,210 |
|
|
|
||
Less: Closing Stock |
(2,800) |
10,130 |
|
|
||
Sundry Expenses |
2,000 |
|
|
|||
|
|
|
|
|||
|
50,150 |
|
50,150 |
|||
|
|
|
|
|||
Balance Sheet as on April 01, 2015 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund (Balancing Figure) |
72,660 |
Stock of Postage and Stationary |
750 |
|
|
|
Stock of Cricket Goods |
3,210 |
|
|
|
Subscriptions Outstanding |
6,600 |
|
|
|
Cash |
3,520 |
|
|
|
Bank |
27,380 |
|
|
|
Fixed Deposits |
30,000 |
60,900 |
|
|
Crockery |
1,200 |
|
|
72,660 |
|
72,660 |
|
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Salary Outstanding |
1,000 |
Stock of postage and stationary |
900 |
||
Tournament Fund |
20,000 |
|
Stock of Cricket Goods |
2,800 |
|
Less: Tournament Expenses |
(18,800) |
1,200 |
Crockery (Purchased) |
2,650 |
|
Capital Fund |
72,660 |
|
Subscription Outstanding |
|
|
Less: Deficit |
5,550 |
67,110 |
For 2015-16 |
8,000 |
|
Entrance Fees |
2,750 |
For 2014-15 |
600 |
8,600 |
|
Donations |
5,010 |
Investments |
5,700 |
||
|
|
Cash |
2,200 |
|
|
|
|
Bank |
23,320 |
25,520 |
|
|
|
Fixed Deposits |
30,000 |
|
|
|
|
Add: Accrued Interest |
900 |
30,900 |
|
|
77,070 |
|
77,070 |
||
|
|
|
|
Working Note:
Calculation of Accrued Interest of Fixed Deposit
Interest on Fixed Deposit (30,000 × 6%) |
= |
1,800 |
Less: Interest Received |
= |
(900) |
Interest Accrued on Fixed Deposits |
= |
900 |
Page No 22.74:
Question 46:
Income and Expenditure account for the year ended March 31, 2016 |
||||||
Dr. |
|
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Maintenance |
6,820 |
Subscription |
40,000 |
|
||
Match Expenses |
13,240 |
Less: Outstanding for 2014-15 |
(6,000) |
|
||
Salaries |
11,000 |
|
Add: Outstanding for 2015-16 |
8,000 |
42,000 |
|
Add: Outstanding (11,000/11) |
1,000 |
12,000 |
|
|
||
Conveyance |
820 |
|
|
|||
Upkeep of Loans |
4,240 |
Interest on Fixed Deposits |
900 |
|
||
Postage and Stationery |
1,050 |
|
Add: Accrued Interest |
900 |
1,800 |
|
Add: Opening stock |
750 |
|
Profit on Sale of Crockery (2,000 – 1,200) |
800 |
||
Less: Closing stock |
(900) |
900 |
Deficit |
5,550 |
||
Cricket Goods |
9,720 |
|
|
|
||
Add:Opening Stock |
3,210 |
|
|
|
||
Less: Closing Stock |
(2,800) |
10,130 |
|
|
||
Sundry Expenses |
2,000 |
|
|
|||
|
|
|
|
|||
|
50,150 |
|
50,150 |
|||
|
|
|
|
|||
Balance Sheet as on April 01, 2015 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund (Balancing Figure) |
72,660 |
Stock of Postage and Stationary |
750 |
|
|
|
Stock of Cricket Goods |
3,210 |
|
|
|
Subscriptions Outstanding |
6,600 |
|
|
|
Cash |
3,520 |
|
|
|
Bank |
27,380 |
|
|
|
Fixed Deposits |
30,000 |
60,900 |
|
|
Crockery |
1,200 |
|
|
72,660 |
|
72,660 |
|
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Salary Outstanding |
1,000 |
Stock of postage and stationary |
900 |
||
Tournament Fund |
20,000 |
|
Stock of Cricket Goods |
2,800 |
|
Less: Tournament Expenses |
(18,800) |
1,200 |
Crockery (Purchased) |
2,650 |
|
Capital Fund |
72,660 |
|
Subscription Outstanding |
|
|
Less: Deficit |
5,550 |
67,110 |
For 2015-16 |
8,000 |
|
Entrance Fees |
2,750 |
For 2014-15 |
600 |
8,600 |
|
Donations |
5,010 |
Investments |
5,700 |
||
|
|
Cash |
2,200 |
|
|
|
|
Bank |
23,320 |
25,520 |
|
|
|
Fixed Deposits |
30,000 |
|
|
|
|
Add: Accrued Interest |
900 |
30,900 |
|
|
77,070 |
|
77,070 |
||
|
|
|
|
Working Note:
Calculation of Accrued Interest of Fixed Deposit
Interest on Fixed Deposit (30,000 × 6%) |
= |
1,800 |
Less: Interest Received |
= |
(900) |
Interest Accrued on Fixed Deposits |
= |
900 |
Answer:
Books of Mumbai Club Income and Expenditure Account for the year ended March 31,2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salary |
2,000 |
Subscriptions |
12,000 |
|
||
Repair Expenses |
500 |
Add: Outstanding |
900 |
|
||
Miscellaneous Expenses |
500 |
|
Less: Advance |
(350) |
12,550 |
|
Less: Prepaid |
(90) |
410 |
|
|
||
Insurance Premium |
200 |
|
Interest on Investments |
100 |
|
|
Add: Outstanding |
40 |
240 |
Add: Accrued interest (6,000 × 8% × 5/12) |
200 |
300 |
|
Paper, Ink, etc. |
150 |
Donation |
2,500 |
|||
Surplus (Balancing Figure) |
13,150 |
Interest received from Bank |
400 |
|||
|
|
Sale of Old Newspapers |
150 |
|||
|
|
|
|
|||
|
|
Receipts from Sale of Drama Tickets |
1,050 |
|
||
|
|
Less: Drama Expenses |
(500) |
550 |
||
|
16,450 |
|
16,450 |
|||
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Billiard Table |
8,000 |
Billiard Table |
30,000 |
|
|
Cash in hand |
4,000 |
Capital Fund (Balancing Figure) |
36,000 |
Cash at bank |
10,000 |
|
44,000 |
|
44,000 |
|
|
|
|
Balance Sheet as on March 31,2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscriptions |
350 |
Subscriptions Outstanding |
900 |
||
Insurance Premium Outstanding |
40 |
Prepaid Miscellaneous Expenses |
90 |
||
Capital Fund |
36,000 |
|
Investments |
6,000 |
|
Add: Surplus |
13,150 |
|
Add: Accrued Interest |
200 |
6,200 |
Add: Donation |
2,500 |
51,650 |
Billiard Table |
30,000 |
|
Entrance Fees |
1,000 |
Furniture |
6,000 |
||
|
|
Cash in Hand |
2,650 |
||
|
|
Cash at Bank |
7,200 |
||
|
53,040 |
|
53,040 |
||
|
|
|
|
Page No 22.75:
Question 47:
Books of Mumbai Club Income and Expenditure Account for the year ended March 31,2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salary |
2,000 |
Subscriptions |
12,000 |
|
||
Repair Expenses |
500 |
Add: Outstanding |
900 |
|
||
Miscellaneous Expenses |
500 |
|
Less: Advance |
(350) |
12,550 |
|
Less: Prepaid |
(90) |
410 |
|
|
||
Insurance Premium |
200 |
|
Interest on Investments |
100 |
|
|
Add: Outstanding |
40 |
240 |
Add: Accrued interest (6,000 × 8% × 5/12) |
200 |
300 |
|
Paper, Ink, etc. |
150 |
Donation |
2,500 |
|||
Surplus (Balancing Figure) |
13,150 |
Interest received from Bank |
400 |
|||
|
|
Sale of Old Newspapers |
150 |
|||
|
|
|
|
|||
|
|
Receipts from Sale of Drama Tickets |
1,050 |
|
||
|
|
Less: Drama Expenses |
(500) |
550 |
||
|
16,450 |
|
16,450 |
|||
|
|
|
|
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Creditors for Billiard Table |
8,000 |
Billiard Table |
30,000 |
|
|
Cash in hand |
4,000 |
Capital Fund (Balancing Figure) |
36,000 |
Cash at bank |
10,000 |
|
44,000 |
|
44,000 |
|
|
|
|
Balance Sheet as on March 31,2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscriptions |
350 |
Subscriptions Outstanding |
900 |
||
Insurance Premium Outstanding |
40 |
Prepaid Miscellaneous Expenses |
90 |
||
Capital Fund |
36,000 |
|
Investments |
6,000 |
|
Add: Surplus |
13,150 |
|
Add: Accrued Interest |
200 |
6,200 |
Add: Donation |
2,500 |
51,650 |
Billiard Table |
30,000 |
|
Entrance Fees |
1,000 |
Furniture |
6,000 |
||
|
|
Cash in Hand |
2,650 |
||
|
|
Cash at Bank |
7,200 |
||
|
53,040 |
|
53,040 |
||
|
|
|
|
Answer:
Income and Expenditure Account for the year ended March 31, 2014 |
|||||
Dr. |
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Municipal Taxes |
400 |
|
Subscription (500 members × Rs 50) |
25,000 |
|
Add: Prepaid in 2013-14 |
100 |
|
Interest Accrued on Investment (20,000 @ 6% for 5 months) |
500 |
|
Less: Prepaid in 2012-13 |
(100) |
400 |
Profit from Drama: |
|
|
Salaries |
6,000 |
|
Proceeds |
9,500 |
|
Add: Outstanding |
50 |
6,500 |
Less: Drama Expenses |
(4,500) |
5,000 |
Expenses |
750 |
Sale of Waste Paper |
450 |
||
Newspapers |
1,500 |
|
|
||
Charity |
3,500 |
|
|
||
Electricity Charges |
1,450 |
|
|
||
Surplus (Balancing Figure) |
16,850 |
|
|
||
|
30,950 |
|
30,950 |
||
|
|
|
|
Balance Sheet as on March 31, 2013 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Subscriptions Outstanding (400 + 500) |
900 |
Capital Fund (Balancing Figure) |
61,250 |
Municipal Taxes Prepaid |
100 |
|
|
Building |
50,000 |
|
|
Cash and Bank |
10,250 |
|
61,250 |
|
61,250 |
|
|
|
|
Balance Sheet as on March 31, 2014 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
600 |
Subscriptions Outstanding |
|
||
Salaries Outstanding |
500 |
For 2013-14 (25,000 – 20,500) |
4,500 |
|
|
Capital Fund |
61,250 |
|
For 2012-13 (Still Outstanding) |
500 |
5,000 |
Add: Donations |
5400 |
|
Prepaid Municipal Taxes |
100 |
|
Add: Surplus |
16,850 |
83,500 |
Building |
50,000 |
|
|
|
Investments |
20,000 |
|
|
|
|
Add: Accrued Interest |
500 |
20,500 |
|
|
|
Cash at Bank |
9,000 |
||
|
84,600 |
|
84,600 |
||
|
|
|
|
Page No 22.75:
Question 48:
Income and Expenditure Account for the year ended March 31, 2014 |
|||||
Dr. |
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Municipal Taxes |
400 |
|
Subscription (500 members × Rs 50) |
25,000 |
|
Add: Prepaid in 2013-14 |
100 |
|
Interest Accrued on Investment (20,000 @ 6% for 5 months) |
500 |
|
Less: Prepaid in 2012-13 |
(100) |
400 |
Profit from Drama: |
|
|
Salaries |
6,000 |
|
Proceeds |
9,500 |
|
Add: Outstanding |
50 |
6,500 |
Less: Drama Expenses |
(4,500) |
5,000 |
Expenses |
750 |
Sale of Waste Paper |
450 |
||
Newspapers |
1,500 |
|
|
||
Charity |
3,500 |
|
|
||
Electricity Charges |
1,450 |
|
|
||
Surplus (Balancing Figure) |
16,850 |
|
|
||
|
30,950 |
|
30,950 |
||
|
|
|
|
Balance Sheet as on March 31, 2013 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Subscriptions Outstanding (400 + 500) |
900 |
Capital Fund (Balancing Figure) |
61,250 |
Municipal Taxes Prepaid |
100 |
|
|
Building |
50,000 |
|
|
Cash and Bank |
10,250 |
|
61,250 |
|
61,250 |
|
|
|
|
Balance Sheet as on March 31, 2014 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
600 |
Subscriptions Outstanding |
|
||
Salaries Outstanding |
500 |
For 2013-14 (25,000 – 20,500) |
4,500 |
|
|
Capital Fund |
61,250 |
|
For 2012-13 (Still Outstanding) |
500 |
5,000 |
Add: Donations |
5400 |
|
Prepaid Municipal Taxes |
100 |
|
Add: Surplus |
16,850 |
83,500 |
Building |
50,000 |
|
|
|
Investments |
20,000 |
|
|
|
|
Add: Accrued Interest |
500 |
20,500 |
|
|
|
Cash at Bank |
9,000 |
||
|
84,600 |
|
84,600 |
||
|
|
|
|
Answer:
Books of Sweet Valley Sports Club
Income and Expenditure Account
for the year ended March 31, 2014
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs)
|
||
Rent
|
6,000
|
Subscription
|
65,000
|
|
|
Salaries to Coaches
|
30,000
|
Add: Outstanding for 2013-14
|
4,000
|
|
|
Office Expenses
|
20,000
|
Less: Outstanding for 2012-13
|
(5,000)
|
64,000
|
|
Sports Equipment
|
15,000
|
|
|
|
|
Add: Opening Stock
|
10,000
|
|
|
|
|
Less: Closing Stock
|
(21,000)
|
4,000
|
|
|
|
Depreciation on Mowing Machine (12,000 × 10% × 6/12)
|
600
|
|
|
||
Surplus (Balancing Figure)
|
3,400
|
|
|
||
|
64,000
|
|
64,000
|
||
|
|
|
|
Balance Sheet as on March 31, 2013 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
|
Cash in Hand |
3,000 |
|
Capital Fund (Balancing Figure) |
48,000 |
Cash at Bank |
30,000 |
33,000 |
|
|
Stock of Sports Equipments |
10,000 |
|
|
|
Subscriptions Outstanding |
5,000 |
|
|
48,000 |
|
48,000 |
|
|
|
|
|
Balance Sheet
as on March 31,2014
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
||
Tournament Fund
|
|
Subscription Outstanding
|
4,000
|
||
Receipts
|
20,000
|
|
Stock of Sports Equipments
|
21,000
|
|
Less: Expenses
|
(10,000)
|
10,000
|
Mowing Machines
|
12,000
|
|
Donation for Pavilion
|
25,000
|
Less: Depreciation
|
(600)
|
11,400
|
|
Entrance Fees | 3,000 | ||||
Capital Fund
|
48,000
|
|
Cash at Bank
|
16,000
|
|
Add: Life Membership Fees
|
30,000
|
|
Cash at Hand
|
70,000
|
86,000
|
Add: Entrance Fees
|
3,000
|
|
|
|
|
Add: Surplus
|
3,400
|
84,400
|
|
|
|
|
1,22,400
|
|
1,22,400
|
||
|
|
|
|
Page No 22.76:
Question 49:
Books of Sweet Valley Sports Club
Income and Expenditure Account
for the year ended March 31, 2014
|
|||||
Dr.
|
|
Cr.
|
|||
Expenditure
|
Amount
(Rs)
|
Income
|
Amount
(Rs)
|
||
Rent
|
6,000
|
Subscription
|
65,000
|
|
|
Salaries to Coaches
|
30,000
|
Add: Outstanding for 2013-14
|
4,000
|
|
|
Office Expenses
|
20,000
|
Less: Outstanding for 2012-13
|
(5,000)
|
64,000
|
|
Sports Equipment
|
15,000
|
|
|
|
|
Add: Opening Stock
|
10,000
|
|
|
|
|
Less: Closing Stock
|
(21,000)
|
4,000
|
|
|
|
Depreciation on Mowing Machine (12,000 × 10% × 6/12)
|
600
|
|
|
||
Surplus (Balancing Figure)
|
3,400
|
|
|
||
|
64,000
|
|
64,000
|
||
|
|
|
|
Balance Sheet as on March 31, 2013 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
|
Cash in Hand |
3,000 |
|
Capital Fund (Balancing Figure) |
48,000 |
Cash at Bank |
30,000 |
33,000 |
|
|
Stock of Sports Equipments |
10,000 |
|
|
|
Subscriptions Outstanding |
5,000 |
|
|
48,000 |
|
48,000 |
|
|
|
|
|
Balance Sheet
as on March 31,2014
|
|||||
Liabilities
|
Amount
(Rs)
|
Assets
|
Amount
(Rs)
|
||
Tournament Fund
|
|
Subscription Outstanding
|
4,000
|
||
Receipts
|
20,000
|
|
Stock of Sports Equipments
|
21,000
|
|
Less: Expenses
|
(10,000)
|
10,000
|
Mowing Machines
|
12,000
|
|
Donation for Pavilion
|
25,000
|
Less: Depreciation
|
(600)
|
11,400
|
|
Entrance Fees | 3,000 | ||||
Capital Fund
|
48,000
|
|
Cash at Bank
|
16,000
|
|
Add: Life Membership Fees
|
30,000
|
|
Cash at Hand
|
70,000
|
86,000
|
Add: Entrance Fees
|
3,000
|
|
|
|
|
Add: Surplus
|
3,400
|
84,400
|
|
|
|
|
1,22,400
|
|
1,22,400
|
||
|
|
|
|
Answer:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries paid to Coaches |
1,66,000 |
Subscription |
1,80,000 |
|
||
Printing and Stationery |
33,800 |
Less: Outstanding in beginning |
12,000 |
|
||
Depreciation (Building) |
80,000 |
Less: Received in advance |
18,000 |
1,50,000 |
||
Telephone Expenses |
8,000 |
|
Interest on Investments |
65,000 |
|
|
Less: Advance |
2,000 |
6,000 |
Add: Accrued Interest |
10,000 |
75,000 |
|
Rent |
48,000 |
|
Concert Tickets (Sale) |
2,47,000 |
|
|
Less: Paid for March’15 |
4,000 |
|
Less: Concert Expenses |
58,000 |
1,89,000 |
|
Less: O/s for March |
4,000 |
48,000 |
General Donations |
1,12,000 |
||
Miscellaneous Expenses |
24,000 |
|
|
|||
Stock of Sports Material |
69,000 |
|
|
|||
Surplus (Excess of Income over Expenditure) |
99,200 |
|
|
|||
|
5,26,000 |
|
5,26,000 |
|||
|
|
|
|
|||
Working Notes:
WN1: Calculation of Interest on Investments
WN 2: Calculation of Consumed Stock of Sports Material
WN 3: Calculation of Consumed Stock of Stationery
Page No 22.76:
Question 50:
Income and Expenditure Account for the year ending March 31, 2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries paid to Coaches |
1,66,000 |
Subscription |
1,80,000 |
|
||
Printing and Stationery |
33,800 |
Less: Outstanding in beginning |
12,000 |
|
||
Depreciation (Building) |
80,000 |
Less: Received in advance |
18,000 |
1,50,000 |
||
Telephone Expenses |
8,000 |
|
Interest on Investments |
65,000 |
|
|
Less: Advance |
2,000 |
6,000 |
Add: Accrued Interest |
10,000 |
75,000 |
|
Rent |
48,000 |
|
Concert Tickets (Sale) |
2,47,000 |
|
|
Less: Paid for March’15 |
4,000 |
|
Less: Concert Expenses |
58,000 |
1,89,000 |
|
Less: O/s for March |
4,000 |
48,000 |
General Donations |
1,12,000 |
||
Miscellaneous Expenses |
24,000 |
|
|
|||
Stock of Sports Material |
69,000 |
|
|
|||
Surplus (Excess of Income over Expenditure) |
99,200 |
|
|
|||
|
5,26,000 |
|
5,26,000 |
|||
|
|
|
|
|||
Working Notes:
WN1: Calculation of Interest on Investments
WN 2: Calculation of Consumed Stock of Sports Material
WN 3: Calculation of Consumed Stock of Stationery
Answer:
Books of Superior Sports Club Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
|
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rates |
600 |
|
Subscription |
16,850 |
|
||
Less: Prepaid |
(120) |
480 |
Add: Arrears |
860 |
|
||
Printing and Stationery |
2,160 |
Less: Advance |
(1,340) |
16,370 |
|||
Postages |
570 |
Receipts form Sponsored Walk |
2,600 |
||||
Electricity |
1,240 |
|
Collection at functions |
2,800 |
|||
Add: Outstanding |
70 |
1,310 |
Competition Fees |
1,860 |
|||
Secretary’s Expenses |
1,650 |
Grant from Local Authority |
9,500 |
||||
Insurance |
240 |
|
|
|
|||
Less: Prepaid (240 × 1/3) |
(80) |
160 |
|
|
|||
Competition Prizes |
3,800 |
|
|
||||
Depreciation on: |
|
|
|
||||
Record Player and Record |
1,600 |
|
|
|
|||
Television |
3,200 |
|
|
|
|||
Other Equipments |
2,150 |
6,950 |
|
|
|||
Surplus (Balancing Figure) |
16,050 |
|
|
||||
|
33,130 |
|
33,130 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Bank Balance |
1,800 |
Capital Fund (Balancing Figure) |
81,950 |
Cash in Hand |
150 |
|
|
Club Premises |
65,000 |
|
|
Record Players and Records |
6,400 |
|
|
Other equipments |
8,600 |
|
81,950 |
|
81,950 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance subscription |
1,340 |
Cash |
100 |
|
|
Creditors for furniture |
7,600 |
Bank |
12,400 |
12,500 |
|
Outstanding Electricity |
70 |
Club Premises |
65,000 |
||
Capital Fund |
81,950 |
|
Record Players and Records |
6,400 |
|
Add: Surplus |
16,050 |
98,000 |
Less: 25% Depreciation |
(1,600) |
4,800 |
|
|
Television |
12,800 |
|
|
|
|
Less: 25% Depreciation |
(3,200) |
9,600 |
|
|
|
Other Equipment |
8,600 |
|
|
|
|
Less: 25% Depreciation |
(2,150) |
6,450 |
|
|
|
Subscription Outstanding |
860 |
||
|
|
Furniture |
7,600 |
||
|
|
Prepaid Rates |
120 |
||
|
|
Prepaid Insurance |
80 |
||
|
1,07,010 |
|
1,07,010 |
||
|
|
|
|
Page No 22.77:
Question 51:
Books of Superior Sports Club Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
|
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Rates |
600 |
|
Subscription |
16,850 |
|
||
Less: Prepaid |
(120) |
480 |
Add: Arrears |
860 |
|
||
Printing and Stationery |
2,160 |
Less: Advance |
(1,340) |
16,370 |
|||
Postages |
570 |
Receipts form Sponsored Walk |
2,600 |
||||
Electricity |
1,240 |
|
Collection at functions |
2,800 |
|||
Add: Outstanding |
70 |
1,310 |
Competition Fees |
1,860 |
|||
Secretary’s Expenses |
1,650 |
Grant from Local Authority |
9,500 |
||||
Insurance |
240 |
|
|
|
|||
Less: Prepaid (240 × 1/3) |
(80) |
160 |
|
|
|||
Competition Prizes |
3,800 |
|
|
||||
Depreciation on: |
|
|
|
||||
Record Player and Record |
1,600 |
|
|
|
|||
Television |
3,200 |
|
|
|
|||
Other Equipments |
2,150 |
6,950 |
|
|
|||
Surplus (Balancing Figure) |
16,050 |
|
|
||||
|
33,130 |
|
33,130 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
Bank Balance |
1,800 |
Capital Fund (Balancing Figure) |
81,950 |
Cash in Hand |
150 |
|
|
Club Premises |
65,000 |
|
|
Record Players and Records |
6,400 |
|
|
Other equipments |
8,600 |
|
81,950 |
|
81,950 |
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance subscription |
1,340 |
Cash |
100 |
|
|
Creditors for furniture |
7,600 |
Bank |
12,400 |
12,500 |
|
Outstanding Electricity |
70 |
Club Premises |
65,000 |
||
Capital Fund |
81,950 |
|
Record Players and Records |
6,400 |
|
Add: Surplus |
16,050 |
98,000 |
Less: 25% Depreciation |
(1,600) |
4,800 |
|
|
Television |
12,800 |
|
|
|
|
Less: 25% Depreciation |
(3,200) |
9,600 |
|
|
|
Other Equipment |
8,600 |
|
|
|
|
Less: 25% Depreciation |
(2,150) |
6,450 |
|
|
|
Subscription Outstanding |
860 |
||
|
|
Furniture |
7,600 |
||
|
|
Prepaid Rates |
120 |
||
|
|
Prepaid Insurance |
80 |
||
|
1,07,010 |
|
1,07,010 |
||
|
|
|
|
Answer:
Books of Rama Krishna Mission Charitable Hospital Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
|
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Medicine |
30,590 |
|
Subscription |
47,996 |
|
||
Add: Opening Stock |
8,810 |
|
Add: Due for 2015-16 |
280 |
|
||
Less: Closing Stock |
(9,740) |
29,660 |
Less: Due for 2014-15 |
(240) |
|
||
Doctor’s Honorarium |
9,000 |
Less: Adv. for 2016-17 |
(100) |
|
|||
Salaries |
27,500 |
Add: Advance for 2015-16 |
64 |
48,000 |
|||
Petty Expenses |
461 |
General Donations |
14,500 |
||||
Expenses on Charity Show |
750 |
Interest on Investments |
7,000 |
||||
Depreciation on Equipments |
4,600 |
Proceeds from Charity Show |
10,450 |
||||
Depreciation on Building |
2,000 |
|
|
||||
Surplus (Balancing Figure) |
5,979 |
|
|
||||
|
79,950 |
|
79,950 |
||||
|
|
||||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Advance Subscription |
64 |
Subscription Due |
240 |
Capital Fund (Balancing Figure) |
1,77,316 |
Stock of Medicines |
8,810 |
|
|
Equipments |
21,200 |
|
|
Building |
40,000 |
|
|
Cash in Hand |
7,130 |
|
|
Investments |
1,00,000 |
|
1,77,380 |
|
1,77,380 |
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
100 |
Subscription Due |
280 |
||
Capital Fund |
1,77,316 |
|
Stock of Medicines |
9,740 |
|
Add: Surplus |
5,979 |
1,83,295 |
Equipments |
21,200 |
|
|
|
Add: Purchases |
15,000 |
|
|
|
|
|
36,200 |
|
|
|
|
Less: Depreciation |
(4,600) |
31,600 |
|
|
|
Building |
40,000 |
|
|
|
|
Less: Depreciation |
(2,000) |
38,000 |
|
|
|
Cash in Hand |
3,775 |
||
|
|
7% Investment |
1,00,000 |
||
|
1,83,395 |
|
1,83,395 |
||
|
|
|
|
Working Note:
Calculation of Value of Investments
Page No 22.78:
Question 52:
Books of Rama Krishna Mission Charitable Hospital Income and Expenditure Account for the year ended March 31, 2016 |
|||||||
Dr. |
|
|
|
|
Cr. |
||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Medicine |
30,590 |
|
Subscription |
47,996 |
|
||
Add: Opening Stock |
8,810 |
|
Add: Due for 2015-16 |
280 |
|
||
Less: Closing Stock |
(9,740) |
29,660 |
Less: Due for 2014-15 |
(240) |
|
||
Doctor’s Honorarium |
9,000 |
Less: Adv. for 2016-17 |
(100) |
|
|||
Salaries |
27,500 |
Add: Advance for 2015-16 |
64 |
48,000 |
|||
Petty Expenses |
461 |
General Donations |
14,500 |
||||
Expenses on Charity Show |
750 |
Interest on Investments |
7,000 |
||||
Depreciation on Equipments |
4,600 |
Proceeds from Charity Show |
10,450 |
||||
Depreciation on Building |
2,000 |
|
|
||||
Surplus (Balancing Figure) |
5,979 |
|
|
||||
|
79,950 |
|
79,950 |
||||
|
|
||||||
Balance Sheet as on April 01, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Advance Subscription |
64 |
Subscription Due |
240 |
Capital Fund (Balancing Figure) |
1,77,316 |
Stock of Medicines |
8,810 |
|
|
Equipments |
21,200 |
|
|
Building |
40,000 |
|
|
Cash in Hand |
7,130 |
|
|
Investments |
1,00,000 |
|
1,77,380 |
|
1,77,380 |
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
100 |
Subscription Due |
280 |
||
Capital Fund |
1,77,316 |
|
Stock of Medicines |
9,740 |
|
Add: Surplus |
5,979 |
1,83,295 |
Equipments |
21,200 |
|
|
|
Add: Purchases |
15,000 |
|
|
|
|
|
36,200 |
|
|
|
|
Less: Depreciation |
(4,600) |
31,600 |
|
|
|
Building |
40,000 |
|
|
|
|
Less: Depreciation |
(2,000) |
38,000 |
|
|
|
Cash in Hand |
3,775 |
||
|
|
7% Investment |
1,00,000 |
||
|
1,83,395 |
|
1,83,395 |
||
|
|
|
|
Working Note:
Calculation of Value of Investments
Answer:
Income and Expenditure Account for the year ending March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries |
66,000 |
|
Subscriptions |
2,00,000 |
|
||
Add: Outstanding |
3,000 |
69,000 |
Less: Received in Advance |
10,000 |
1,90,000 |
||
Electric Charges |
7,200 |
Sale Proceeds of Old Papers |
1,500 |
||||
Postage and Stationery |
5,000 |
Hire of Lecture Hall |
20,000 |
||||
Telephone Charges |
5,000 |
Interest on Securities |
8,000 |
|
|||
Rent |
88,000 |
|
Add: Accrued |
500 |
8,500 |
||
Add: Outstanding |
4,000 |
92,000 |
Deficit (Excess of Expenditure over Income) |
24,200 |
|||
Depreciation: |
|
|
|
||||
Books |
46,000 |
|
|
|
|||
Furniture |
5,000 |
|
|
|
|||
Electrical Fittings |
15,000 |
66,000 |
|
|
|||
|
2,44,200 |
|
2,44,200 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Opening Capital |
7,93,000 |
|
Cash at Bank |
20,000 |
|
Add: Legacies |
30,000 |
|
Cash on Hand |
11,300 |
|
Less: Deficit |
24,200 |
7,98,800 |
Books |
4,60,000 |
|
Outstanding Rent |
4,000 |
Less: Depreciation |
46,000 |
4,14,000 |
|
Outstanding Salaries |
3,000 |
Furniture |
50,000 |
|
|
Subscription received in advance |
10,000 |
Less: Depreciation |
5,000 |
45,000 |
|
|
|
Electrical Fittings |
1,50,000 |
|
|
|
|
Less: Depreciation |
15,000 |
1,35,000 |
|
|
|
Inv. in Securities |
1,50,000 |
|
|
|
|
Add: Additions |
40,000 |
1,90,000 |
|
|
|
Accrued Interest on Securities |
500 |
||
|
8,15,800 |
|
8,15,800 |
||
|
|
|
|
Page No 22.78:
Question 53:
Income and Expenditure Account for the year ending March 31, 2016 |
|||||||
Dr. |
|
Cr. |
|||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||||
Salaries |
66,000 |
|
Subscriptions |
2,00,000 |
|
||
Add: Outstanding |
3,000 |
69,000 |
Less: Received in Advance |
10,000 |
1,90,000 |
||
Electric Charges |
7,200 |
Sale Proceeds of Old Papers |
1,500 |
||||
Postage and Stationery |
5,000 |
Hire of Lecture Hall |
20,000 |
||||
Telephone Charges |
5,000 |
Interest on Securities |
8,000 |
|
|||
Rent |
88,000 |
|
Add: Accrued |
500 |
8,500 |
||
Add: Outstanding |
4,000 |
92,000 |
Deficit (Excess of Expenditure over Income) |
24,200 |
|||
Depreciation: |
|
|
|
||||
Books |
46,000 |
|
|
|
|||
Furniture |
5,000 |
|
|
|
|||
Electrical Fittings |
15,000 |
66,000 |
|
|
|||
|
2,44,200 |
|
2,44,200 |
||||
|
|
|
|
||||
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Opening Capital |
7,93,000 |
|
Cash at Bank |
20,000 |
|
Add: Legacies |
30,000 |
|
Cash on Hand |
11,300 |
|
Less: Deficit |
24,200 |
7,98,800 |
Books |
4,60,000 |
|
Outstanding Rent |
4,000 |
Less: Depreciation |
46,000 |
4,14,000 |
|
Outstanding Salaries |
3,000 |
Furniture |
50,000 |
|
|
Subscription received in advance |
10,000 |
Less: Depreciation |
5,000 |
45,000 |
|
|
|
Electrical Fittings |
1,50,000 |
|
|
|
|
Less: Depreciation |
15,000 |
1,35,000 |
|
|
|
Inv. in Securities |
1,50,000 |
|
|
|
|
Add: Additions |
40,000 |
1,90,000 |
|
|
|
Accrued Interest on Securities |
500 |
||
|
8,15,800 |
|
8,15,800 |
||
|
|
|
|
Answer:
Indian Youth Association Income and Expenditure Account for the year ending March 31,2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Loss on Sale of Bicycle |
1,500 |
Subscription |
40,000 |
|
||
Postage |
400 |
Add: Outstanding at the end |
8,000 |
|
||
Salaries |
30,000 |
Less: Outstanding in the beginning |
8,000 |
|
||
Rent |
6,000 |
|
Less: Received in Advance at the end |
4,000 |
36,000 |
|
Add: Outstanding Rent |
500 |
6,500 |
Bank Interest |
200 |
||
Printing and Stationery |
1,500 |
|
Accrued Interest |
200 |
||
Add: Outstanding Bill |
300 |
1,800 |
Deficit (Excess of Expenditure over Income) |
3,800 |
||
|
40,200 |
|
40,200 |
|||
|
|
|
|
|||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund: |
|
Investment |
8,000 |
|
Opening Balance |
40,500 |
|
Typewriter |
4,000 |
Less: Deficit |
3,800 |
36,700 |
Accrued Interest |
200 |
Subscription Received in Advance |
4,000 |
Subscription Outstanding |
8,000 |
|
Rent Outstanding |
500 |
Bank |
20,000 |
|
Stationery Outstanding |
300 |
Cash |
1,300 |
|
|
41,500 |
|
41,500 |
|
|
|
|
|
Working Notes:
Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund (Balancing Figure) |
40,500 |
Bank |
24,500 |
|
|
Cash |
2,500 |
|
|
Subscription Outstanding |
8,000 |
|
|
Bicycle |
5,500 |
|
40,500 |
|
40,500 |
|
|
|
|
Page No 22.79:
Question 54:
Indian Youth Association Income and Expenditure Account for the year ending March 31,2016 |
||||||
Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Loss on Sale of Bicycle |
1,500 |
Subscription |
40,000 |
|
||
Postage |
400 |
Add: Outstanding at the end |
8,000 |
|
||
Salaries |
30,000 |
Less: Outstanding in the beginning |
8,000 |
|
||
Rent |
6,000 |
|
Less: Received in Advance at the end |
4,000 |
36,000 |
|
Add: Outstanding Rent |
500 |
6,500 |
Bank Interest |
200 |
||
Printing and Stationery |
1,500 |
|
Accrued Interest |
200 |
||
Add: Outstanding Bill |
300 |
1,800 |
Deficit (Excess of Expenditure over Income) |
3,800 |
||
|
40,200 |
|
40,200 |
|||
|
|
|
|
|||
Balance Sheet as on March 31, 2016 |
||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
Capital Fund: |
|
Investment |
8,000 |
|
Opening Balance |
40,500 |
|
Typewriter |
4,000 |
Less: Deficit |
3,800 |
36,700 |
Accrued Interest |
200 |
Subscription Received in Advance |
4,000 |
Subscription Outstanding |
8,000 |
|
Rent Outstanding |
500 |
Bank |
20,000 |
|
Stationery Outstanding |
300 |
Cash |
1,300 |
|
|
41,500 |
|
41,500 |
|
|
|
|
|
Working Notes:
Calculation of Capital Fund
Balance Sheet as on March 31, 2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Capital Fund (Balancing Figure) |
40,500 |
Bank |
24,500 |
|
|
Cash |
2,500 |
|
|
Subscription Outstanding |
8,000 |
|
|
Bicycle |
5,500 |
|
40,500 |
|
40,500 |
|
|
|
|
Answer:
Books of Delhi Sports Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Rent |
15,000 |
Subscription |
54,500 |
|
|
Interest on Loan |
5,000 |
Less: Outstanding |
12,000 |
|
|
Wages |
22,000 |
|
Add: Advance |
17,500 |
60,000 |
Add: Outstanding |
3,500 |
25,500 |
Proceeds from Games |
12,000 |
|
Loss by Fire (Furniture) |
5,000 |
Honorarium Member’s subscription for the year |
5,000 |
||
Lighting and Heating |
4,100 |
Locker Rent |
3,000 |
||
Surplus (Excess of Income over Expenditure) |
25,400 |
|
|
||
|
80,000 |
|
80,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund |
5,48,600 |
|
Premises |
5,00,000 |
|
Add: Surplus |
25,400 |
5,74,000 |
Furniture |
20,000 |
|
Wages Outstanding |
3,500 |
Add: Addition |
32,000 |
|
|
Loan |
25,000 |
Less: Loss by Fire |
5,000 |
47,000 |
|
Advance received from members |
25,000 |
Stock of Golf Balls |
9,500 |
||
|
|
Bank |
71,000 |
||
|
6,27,500 |
|
6,27,500 |
||
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet as on March 31,2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in advance |
17,500 |
Bank |
74,600 |
Loan |
50,000 |
Premises |
5,00,000 |
Capital Fund (Balancing Figure) |
5,48,600 |
Furniture |
20,000 |
|
|
Stock of Golf Balls |
9,500 |
|
|
Subscription Outstanding |
12,000 |
|
6,16,100 |
|
6,16,100 |
|
|
|
|
Note: It has been assumed that half of the loan is repaid by the member at the end of the year.
Page No 22.79:
Question 55:
Books of Delhi Sports Club Income and Expenditure Account for the year ending March 31,2016 |
|||||
Dr. |
|
Cr. |
|||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
||
Rent |
15,000 |
Subscription |
54,500 |
|
|
Interest on Loan |
5,000 |
Less: Outstanding |
12,000 |
|
|
Wages |
22,000 |
|
Add: Advance |
17,500 |
60,000 |
Add: Outstanding |
3,500 |
25,500 |
Proceeds from Games |
12,000 |
|
Loss by Fire (Furniture) |
5,000 |
Honorarium Member’s subscription for the year |
5,000 |
||
Lighting and Heating |
4,100 |
Locker Rent |
3,000 |
||
Surplus (Excess of Income over Expenditure) |
25,400 |
|
|
||
|
80,000 |
|
80,000 |
||
|
|
|
|
Balance Sheet as on March 31, 2016 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Capital Fund |
5,48,600 |
|
Premises |
5,00,000 |
|
Add: Surplus |
25,400 |
5,74,000 |
Furniture |
20,000 |
|
Wages Outstanding |
3,500 |
Add: Addition |
32,000 |
|
|
Loan |
25,000 |
Less: Loss by Fire |
5,000 |
47,000 |
|
Advance received from members |
25,000 |
Stock of Golf Balls |
9,500 |
||
|
|
Bank |
71,000 |
||
|
6,27,500 |
|
6,27,500 |
||
|
|
|
|
Working Notes:
WN1: Calculation of Capital Fund
Balance Sheet as on March 31,2015 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Subscription received in advance |
17,500 |
Bank |
74,600 |
Loan |
50,000 |
Premises |
5,00,000 |
Capital Fund (Balancing Figure) |
5,48,600 |
Furniture |
20,000 |
|
|
Stock of Golf Balls |
9,500 |
|
|
Subscription Outstanding |
12,000 |
|
6,16,100 |
|
6,16,100 |
|
|
|
|
Note: It has been assumed that half of the loan is repaid by the member at the end of the year.
Answer:
Income and Expenditure Account (Extract) for the year ending March 31,2016 |
|||
Dr. |
|
Cr. |
|
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
Salaries (WN2) |
2,00,000 |
Subscriptions (WN1) |
5,76,000 |
Sports Material Consumed (WN3) |
2,52,000 |
|
|
|
|
|
|
Balance Sheet (Extract) as on March 31,2016 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Advance Subscription |
20,800 |
Accrued Subscription |
28,000 |
Creditors for Sports Material |
36,000 |
|
|
|
|
|
|
Working Notes:
WN1: Subscription Account
Subscription Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Outstanding Subscription (Beg.) |
38,000 |
Advance Subscription (Beg.) |
11,200 |
Income & Expenditure A/c
|
5,76,000 |
Receipts and Payments A/c (total amount received during the year) |
5,95,600 |
Advance Subscription (End) |
20,800 |
Outstanding Subscription (End) |
28,000 |
|
6,34,800 |
|
6,34,800 |
|
|
|
|
WN 3:
Creditors for Sports Material Account |
|||
Dr. |
|
Cr. |
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
Balance b/d (Advance in beg.) |
20,000 |
Balance b/d (Opening Creditors) |
60,000 |
Bank A/c (Amount paid) |
2,16,000 |
Credit Purchases (Bal. Fig.) |
2,00,000 |
Balance c/d (Closing Creditors) |
36,000 |
Balance c/d (Advance at end) |
12,000 |
|
2,63,200 |
|
2,63,200 |
|
|
|
|
Cash Purchases of Sports Material = Rs 20,000 (10% of Credit Purchases)
WN4: Calculation of Sports Material Consumed
View NCERT Solutions for all chapters of Class 13