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II. Preparation of Income and Expenditure A/c and Closing Balance Sheet 6. The following is the Receipts and Payments A/c for Delhi football association for the first year ending 31.12.2020. Payments 50,000 By Pavilion office (Constructed) Receipts Rs. Rs. To Donation To Reserve fund (Life membership)| 40,000

II. Preparation of Income and Expenditure A/c and Closing Balance Sheet 6. The following is the Receipts and Payments A/c for Delhi football association for the first year ending 31.12.2020. Payments 50,000 By Pavilion office (Constructed) Receipts Rs. Rs. To Donation To Reserve fund (Life membership)| 40,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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II. Preparation of Income and Expenditure A/c and Closing Balance Sheet 6. The following is the Receipts and Payments A/c for Delhi football association for the first year ending 31.12.2020. Receipts Rs. Payments 50,000 By Pavilion office (Constructed) Rs. To Donation To Reserve fund (Life membership)| 40,000
Transcribed Image Text:II. Preparation of Income and Expenditure A/c and Closing Balance Sheet 6. The following is the Receipts and Payments A/c for Delhi football association for the first year ending 31.12.2020. Receipts Rs. Payments 50,000 By Pavilion office (Constructed) Rs. To Donation To Reserve fund (Life membership)| 40,000
Fess and entrance fees received) 4,000 By Expenses in connection Tơ Receipts from football matches 8,000 Revenue Receipts: To Subscriptions To Locker Rents To interest on Securities 900 2,100 16,000 with matches By Furniture 5,200 By Investments at cost 50 Revenue payments: 240 By Salaries 350 By Wages aBy Insurance By Telephone By Electricity By Sundry expenses By Balance on hand 1,800 600 To Sundries 350 250 110 250 5,520 67,840 67,840 Additional information: i) Subscriptions outstanding for 2020 are Rs.250 ii) Salaries unpaid for 2020 are Rs.170 iii) Wages unpaid for 2020 are Rs.90 iv) Outstanding bill the Sundry expenses is Rs.40 v) Donations received have to be capitalized. Prepare from the details given above and income and Expenditure A/c from year ended 31-12-2020 and the Balance sheet of the Association as on that date. 00 Ine
Transcribed Image Text:Fess and entrance fees received) 4,000 By Expenses in connection Tơ Receipts from football matches 8,000 Revenue Receipts: To Subscriptions To Locker Rents To interest on Securities 900 2,100 16,000 with matches By Furniture 5,200 By Investments at cost 50 Revenue payments: 240 By Salaries 350 By Wages aBy Insurance By Telephone By Electricity By Sundry expenses By Balance on hand 1,800 600 To Sundries 350 250 110 250 5,520 67,840 67,840 Additional information: i) Subscriptions outstanding for 2020 are Rs.250 ii) Salaries unpaid for 2020 are Rs.170 iii) Wages unpaid for 2020 are Rs.90 iv) Outstanding bill the Sundry expenses is Rs.40 v) Donations received have to be capitalized. Prepare from the details given above and income and Expenditure A/c from year ended 31-12-2020 and the Balance sheet of the Association as on that date. 00 Ine
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