Questions

Q 30 - From the trial balance and other information of a school ,prepare Income and expenditure account for the year ended 31st march 2017 and a balancesheet as on that date.

Additional Information:

a - Tuition fees outstanding Rs.20,000
b - Salaries outstanding Rs.25,000
c - Rent for the auditorium yet to be received Rs.6,000
d - Depreciate furniture by 10% p.a., 15% p.a. on library books and 6% p.a. on land and building .

Ans : Surplus : 5,51,800. Balance sheet total : 18,03,600.

Q 31 : From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017.

Additional Information:

1. The Club had 500 members each paying an annual subscription of Rs. 150.

2. On 31.3.2017 salaries outstanding amounted to Rs. 1,200 and salaries paid included Rs. 6,000 for the year 2015-16.

3. Provide 5% depreciation on Land and Building.

(Ans : Deficit Rs. 200 Total of Closing Balance Sheet Rs.7,07,000)

Q 32 :From the following receipts and payments and information given below, Prepare Income and Expenditure Account and opening Balance Sheet of Adult Literacy Orgnisation as on December 31, 2017.

Q 33 -  The following is the Receipt and Payment Account of the Nari Kalayan Samittee for the year ended December 31, 2017:

You are required to prepare an Income and Expenditure Account after the following adjustments:

(a) Subscription still to be received are Rs.750 , but subscription include Rs.500 for the year 2018.

(b) In the beginning of the year the Samiti owned building Rs.20,000 and furniture Rs.3,000 and Books Rs.2,000.

(c) Provide depreciation on furniture @5% (including purchase ), books @ 10% and building @ 5%.

(Ans : Surplus Rs. 24,040)

Q 34 - Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2015:

Other Information:

Subscription outstanding was on December 31, 2016 Rs.1,200 and Rs.3,200 on December 31, 2017.

Locker rent outstanding on December 31, 2017 Rs.250.

Salary outstanding on December 31, 2017 Rs.1,000.

On January 1, 2017, club has Building Rs.36,000, furniture Rs.12,000, Sports equipments Rs.17,500. Depreciation charged on these items @ 10% (including Purchase).(Entrance fee treated as income)

(Ans : Surplus Rs.26,300, Opening Capital fund Rs.74,590, Total of Closing Balance Sheet Rs.1,49,090)

Q 35 - From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account and Balance Sheet for the year ending March 31, 2017.

(Ans : Surplus Rs.11,100 ,Opening Capital fund Rs.1,37,500, Total of Closing Balance Sheet Rs.1,60,800]

Q 36 - Receipt and Payment Account of Shankar Sports club is given below, for the year ended March 31, 2017

Prepare Income and Expenditure Account and Balance Sheet with help of following Information:

Subscription outstanding on March 31, 2016 is Rs.1, 200 and Rs.2, 300 on March 31, 2017,

opening stock of postage stamps is Rs.300 and closing stock is Rs. 200,

Rent Rs.1, 500 related to 2015 and Rs.1, 500 is still unpaid.

On April 1, 2016 the club owned furniture Rs.15, 000, Furniture valued at Rs. 22,500 as on March 31, 2017.

On March 31, 2016, the club had a loan of Rs.20,000 (@ 10% p.a).

(Ans : Deficit Rs.6,100, Opening Capital fund Deficit Rs.2,400, Total of Closing Balance Sheet Rs. 44,500)

Q 37 - Prepare Income and Expenditure Account and Balance Sheet for the year ended March 31, 2016 from the following Receipt and Payment Account and Balance Sheet of culture club:

Question No: 17

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