LiabilitiesRsAssetsRs.Expenses Unpaid:Printing etc.RepairsCash in hand25080Bank BalancesDeposit A/cCurrent A/cInterest dueSubscriptions OutstandingEquipment3602,090Bonus to Groundsman2001502,240Honorariun to SecretaryCapital Fund6001,24020100Balance on1,750Ist Jan,Add Surplus3,080403,1204.3604,360Illustration 5. Prepare Income & Expenditure Account for the year ending 31-12-2000 and Balance-Sheet as on that date from the following :Receipts and Payments Accountfor the year ended 31-12-2000ReceiptsRs.PaymentsRs.2,100By Printing and StationaryBy Advertisements500 By Investment in Govt. Securities at5% On 1 st Nov. 2000 (Interest, payableon 1st) May and Ist Nov.By Building Construction200 By Match ExpensesTo Balance b/d1,300To Subscription1999 (estimated at Rs. 460)80020005,00020012008,000To Donation for Building5,5002,500To Sports Material900To Rent1,300By Creditors for 1999 estimatedTo Entrance Fees300at Rs. 750, in full settlement650To Match Fund10,000By Salaries1,750By Sports MaterialsBy HonorariumTo Locker Rent3503,000To Lecture Hall200430By Electricity275By Balance c/d6,04525.65025,650х37Additional Information:31-12-2000Rs.31-12-199Rs.Sports MaterialPrinting Materials (Dr.)Creditors for PrintingRent received in advance for 2001430750508080100Salary of treasurer outstandingSurplus from House Account including Refreshment outstanding250150

The question is based on the concept of Accounting for non-profit making organizations.

Liabilities Expenses Unpaid : Printing etc. Repairs Bonus to Groundsman Assets Cash in hand Bank Balances Deposit A/c Current A/e Interest due Subscriptions Outstanding Equipment Rs. Rs. 250 80 360 2,090 200 150 2,240 Honorariun to Secretary 600 1,240 20 Capital Fund : 100 Balance on 1,750 Ist Jan. 3,080 40 3,120 4,360 Add Surplus 4,360 Illustration 5. Prepare Income & Expenditure Account for the year ending 31-12-2000 and Balance -Sheet as on that date from the following : Receipts and Payments Account for the vear ended 31-12-2000

Liabilities Expenses Unpaid : Printing etc. Repairs Bonus to Groundsman Assets Cash in hand Bank Balances Deposit A/c Current A/e Interest due Subscriptions Outstanding Equipment Rs. Rs. 250 80 360 2,090 200 150 2,240 Honorariun to Secretary 600 1,240 20 Capital Fund : 100 Balance on 1,750 Ist Jan. 3,080 40 3,120 4,360 Add Surplus 4,360 Illustration 5. Prepare Income & Expenditure Account for the year ending 31-12-2000 and Balance -Sheet as on that date from the following : Receipts and Payments Account for the vear ended 31-12-2000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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