AHSEC CLASS 12
ACCOUNTANCY QUESTION BANK
UNIT
– 1 ACCOUNTING FOR NOT FOR PROFIT ORGANISATION
Short Answer type Questions
ACCOUNTING FOR NOT FOR PROFIT ORGANISATION (5 MARKS)
1. Calculation of Subscription Income, CALCULATION OF MATERIAL CONSUMED, CALCULATION OF DEPRECIATION AND CALCULATION OF SUBSCRIPTION INCOME IN CASE OF NPO 2012, 2019, 2020, 2022
2. Income and Expenditure Account 2014, 2016, 2018, 2020, 2022
3. Receipts and Payments Account 2011, 2013, 2015, 2017, 2019
1. From the following information ascertain
the amount of subscription to be credited to the Income and Expenditure Account
for the year 2020.
(i)
Subscription received during the year Rs. 11,750 (including Rs. 1,000 for 2019
and Rs. 500 for 2021)
(ii) Subscription
received in 2019 for 2020 Rs. 700.
(iii)
Subscription outstanding on 31st Dec, 2020 Rs. 900.
2. In 2020 the amount of subscription received
was Rs. 20,000. This includes Rs. 500 for 2012 and Rs. 800 for 2021. There are
500 members and each member pays annually Rs.50. Ascertain the amount of
subscription that should be credited to the income and Expenditure account
prepared for the year ended 31st December, 2020.
3. From the following information, ascertain
the amount of subscription to be credited to the Income and Expenditure Account
for the year 2012. (5) 2012
(i)
Subscription received during the year Rs 11,750 (including Rs 1000 for 2011 and
Rs 500 for 2013)
(ii)
Subscription received in 2011 for 2012 Rs 700
(iii)
Subscription outstanding on 31st December 2012 Rs 900
4. Calculate the amount of subscription to be
credited to Income and Expenditure Account for the year ended 31st
March, 2019. 3 2020
1)
Subscription received during the year ended 31st
March, 2019 Rs. 2,50,000.
2)
Outstanding subscription on 1/4/2018 Rs.
50,000.
3)
Outstanding subscription on 31/03/2019 Rs.
35,000.
4)
Advance subscription on 01/04/2018 Rs. 25,000.
5)
Advance subscription on 31/03/2019 Rs. 30,000.
5. Calculate amount of medicines consumed to
be shown in the Income and Expenditure A/c for the year ended 31-12-2018: 3 2019
|
|
01-01-2018 |
31-12-2018 |
|
Stock of
Medicines Creditors
for Medicines |
3,000 2,000 |
500 1,300 |
Amount
paid for medicines during 2018 was Rs. 10,800/-
6. Calculate from the following information
the amount to be posted to Income and Expenditure Account for the year ending
31.12.20 under the head stationery expenses.
Stock of
stationery (1.1.20) Rs. 300
Stock of
stationery (31.12.20) Rs. 50
Creditors
for stationery outstanding Rs. 200
Amount
paid for stationery during the year 2000 Rs. 1080.
7. From the following information ascertain
the amount of subscription relating to the year 2020 for a club.
(i) Subscription
relating to the year 2020 received in 1999 – Rs. 200.
(ii) Subscription
relating to the year 2019 received in 2000 Rs. 500.
(iii)
Subscription relating to the year 2021 received in 2000 – Rs. 400.
(iv) Total
subscription received in the year 2020 was – Rs. 8,000.
8. From the following details calculate the
amount of depreciation and explain its treatment in income and expenditure
account:
Opening
balance of furniture: Rs. 5,000.
Purchase
of furniture Rs. 10,000
Sale
of furniture Rs. 4000 (book value = Rs. 2,500)
Closing
balance of furniture Rs. 3,500.
9. Tournament fund appears in the books Rs.
15,000 and expenses on tournament during the year were Rs. 18000. How will you
show this in format while preparing financial statement of a not-for-profit
organisation?
10. As per Receipt and Payments account for
the year ended on March 31, 2020, the subscription received were Rs. 2,50,000.
Addition information given is as follows:
(i)
Subscriptions outstanding on 01-04-2019 Rs. 50,000.
(ii)
Subscription outstanding on 31-03-2020 Rs. 35,000.
(iii)Subscription
Received in advance as on 31-03-2020 Rs. 30000.
Ascertain
the amount of income from subscription for the year 2019-20.
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ALSO READ (AHSEC ASSAM BOARD CLASS 12):
1. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE NOTES
2. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION (THEORY)
3. AHSEC CLASS 12 ACCOUNTANCY IMPORTANT QUESTION BANK (PRACTICAL)
4. AHSEC CLASS 12 ACCOUNTANCY PAST EXAM PAPERS (FROM 2012 TILL DATE)
5. AHSEC CLASS 12 ACCOUNTANCY SOLVED QUESTION PAPERS (FROM 2012 TILL DATE)
6. AHSEC CLASS 12 ACCOUNTANCY CHAPTERWISE MCQS
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11. From the following extracts of Receipts
and Payments Account and the additional information given below, compute the
amount of income from subscriptions and show us how they would appear in the
Income and Expenditure Account for the year ending March 31, 2020and the
Balance sheet on that date:
Receipts
and Payments A/C
For the
year ending March 31, 2020
|
Receipts |
Rs. |
Payments |
Rs. |
|
Subscription: 2018 -
19 = 7000 2019 -
20 = 30000 2020 -
21 = 5000 |
42000 |
|
|
Additional information:-
a)
Subscription outstanding on March 31, 2019 Rs.
8500.
b)
Total subscriptions outstanding on March 31,
2020 Rs. 18,500.
c)
Subscriptions received in advance as on March
31, 2019 Rs. 4000.
12. From
the following particulars of a club, calculate the amount of salaries to be
shown in Income and expenditure account for the year ended 31 March, 2020:
a)
Total salaries paid during the year 2019-20 Rs. 87,000
b)
Outstanding salaries on 01-04-2019 Rs. 17,000
c)
Prepaid salaries on 01-04-2019 Rs. 19,000
d)
Outstanding salaries on 31-03-2020 Rs. 32,000
e)
Prepaid salaries on 31-03-2020 Rs 20,000
13. Calculate the amount to be debited to
Income and Expenditure account under the heading sports items for the year 2019-2020
in respect of the Osmosis club:
a)
Stock of sports items on 01-04-2019 Rs. 44,700
b)
Stock of sports items on 31-03-2020 Rs. 24,500
c)
Paid for sports items during the year Rs.
97,900
d)
Creditors for supplies of sports items 31-03-2020
Rs. 26,500.
14. Show
the following information in the Balance Sheet of the Cosmos club as on 31st
March 2020:-
|
Particulars |
Dr (Rs) |
Cr (Rs) |
|
Tournament
Fund |
- |
1,50,000 |
|
Tournament
Fund Investment |
1,50,000 |
- |
|
Income
From Tournament Fund Investment |
|
18,000 |
|
Tournament
Expenses |
12,000 |
- |
Additional
Information: Interest accrued on Tournament Fund Investment Rs. 6000.
15. Calculate the amount medicines to be
debited in the Income and Expenditure Account of a Hospital on the basis of the
following information:
|
|
01-04-2020 |
31-03-2021 |
|
Stock of
Medicines |
90,000 |
1,24,000 |
|
Creditors
for Medicines |
2,40,000 |
2,04,000 |
Amount
paid for medicines during the year was Rs. 6,79,000.
16.Calculate the amount of stationery consumed to be shown in the Income and Expenditure A/c for the year ended 31st December, 2020: 2022
|
|
01-01-2020 |
31-12-2020 |
|
Creditors for stationery Stock of stationery |
4,000 5,400 |
6,200 5,000 |
During the year 2020 payment made for stationery was Rs. 40,000.
CHAPTERWISE PRACTICAL IMPORTANT QUESTIONS
PROFIT AND LOSS APPROPRIATION ACCOUNT AND PARTNERSHIP DEED
ADMISSION OF A PARTNER
RETIREMENT OF A PARTNER
DEATH OF A PARTNER
DISSOLUTION OF PARTNERSHIP FIRM
ACCOUNTING FOR SHARE CAPITAL
ISSUE AND REDEMPTION OF DEBENTURES
ANALYSIS OF FINANCIAL STATEMENTS
RATIO ANALYSIS
CASH FLOW STATEMENT
Preparation of Receipts and Payments Account
1. Novodoi Club of Doomdooma had a cash and
balance of Rs. 740 and Rs. 16,300 respectively on
1.4.98. From the following details prepare its Receipt and Payments Account for
the year ending 31st
March, 1999. 2000
|
Entrance
fees received Donation
received Donation
received for new club building Salaries
paid to staff (including Rs. 4,000 of 1997-98) Furniture
purchases Repairs
to building Rent
received from auditorium Honorarium
to coaches Wages
paid to laborers’ Receipt
from sale of old newspaper Expenses
for tournament paid Subscription
received from members:
1997-98
1998-99
1999-2000 Life
membership fee received Balance
at Bank as on 31.3.99. |
10,000 20,000 80,000 14,400 20,000 1,900 2,400 3,400 6,240 1,050 8,300 4,000 24,000 6,800 2,000 1,10,000 |
2. Tangla
Tea Managers club had a cash and bank balance of Rs. 6,200 and Rs. 10,500
respectively on 1st April, 2009. From the following information,
prepare a Receipt and Payment A/c for the year ended 31st March,
2010.
Entrance
fees received 4,000
Salaries
paid 7,600
Donations 5,000
Subscription
received 5,000
2008-2009 2,100
2009-2010 24,500
2010-2011 3,000
Outstanding
subscription for 2009-2010 4,200
Sports
materials purchased 18,000
Sundry
expenses 1,500
Life
membership fees 10,000
Annual
sports day expenses 9,600
Outstanding
salaries for 2009-10 800
Repairs 1,000
Books
purchased 10,000
Donation
for building 15,000
Honorarium 6,000
Municipal
tax paid 7,000
Cash in
hand 31.3.2010 4,200
(Entrance fee to be treated as revenue
receipt)
3. Guwahati Club has a cash and bank balance
of Rs. 1,600 and Rs. 20,000 respectively on 1-4-2011. From the following
details, prepare a Receipts and Payments A/c for the year ended 31-3-2012:
|
|
(Rs.) |
|
Donation
received Entrance
fee received Donation
received for building Furniture
purchased Salary
paid for the year Salary
paid in advance Repairs
of Building Rent
received Wages
paid Outstanding
salary Sales of
old newspaper Subscription
received: For
2010-2011 For
2011-2012 For
2012-2013 Life
Membership Fees Balance
of bank on 31-3-2012 |
18,000 6,000 90,000 18,000 10,500 2,000 1,500 1,500 6,000 1,500 900 8,000 25,000 1,000 4,000 1,35,500 |
4. Star Cricket Club had a cash balance of Rs.
500 and a bank balance of Rs. 1,000, on 1-4-2011. From the following details,
prepare its Receipts and Payments A/c for the year ended 31-03-2012.
|
Particulars |
(Rs.) |
|
Subscription
received for the year Subscription
outstanding on 31-03-2011 Subscription
for 2010-2011 received during the current year Life membership
fees received Donation
for club house received Rent
paid for the year Advance
rent paid/Rent prepared Sale of
furniture (book value Rs. 600) Honorarium
to Coach Sports
Expenses Construction
of club house Salary Printing
& Stationery Postage
& Telegram Maintenance
grant Depreciation
during the year Salary
outstanding on 31-03-2011 Outstanding
salary on 1-4-2011 paid during the year Cash in
hand on 31-03-2011 Stationery
in hand on 31-03-2011 |
16,000 2,000 1,000 5,000 10,000 6,000 600 500 5,000 8,000 9,000 4,500 400 600 1,000 1,000 500 500 1,400 100 |
5. Joker’s Club had a cash balance of Rs.
1,200 and a bank balance of Rs. 23,500 on 1-1-2011. From the following
particulars, prepare a Receipts and Payments A/c for the year ended 31-12-2011
|
Particular |
(Rs.) |
|
Salary
paid: (including Rs. 1,000 for 2010 and Rs. 500 for 2012) Salary
outstanding for 2011 Books
purchased Sports
material purchased Sports
material used Subscriptions
received: (including Rs. 2,000 for 2010 and Rs. 3,000 for 2012) Printing
and Stationery consumed/used Sale of
furniture (Book value Rs. 1,000) Subscription
received in 2010 for 2011 Subscription
outstanding for 2011 General
Expenses Entrance
Fees received 10%
Investment purchased Electricity
Donation
received Newspaper
and Magazine Sale of
old Newspaper Depreciation
of furniture Interest
on investment received Honorarium
to coaches Cash in
hand on 31-12-2011 Printing
and Stationery on 1-1-2011 Printing
and Stationery on 31-1-2011 |
24,000 800 20,000 30,000 3,000 40,000 2,600 800 1,600 4,000 4,000 2,000 5,000 1,600 40,000 2,000 600 2,000 500 1,200 1,500 1,000 1,200 |
6. The Bee Line Club of Guwahati had a cash
and a bank balance of Rs. 740 and Rs. 16,300 as on 1-4-2011. From the following
details, prepare its Receipts and Payments A/c for the year ended on 31-3-2012.
|
Particulars |
(Rs.) |
|
Entrance
fee received Donation
received Donation
received for new building Salaries
paid to staff (including Rs. 4,000 for 2010-2011) Repair
to building Rent
received from Auditorium Rent for
auditorium outstanding Honorarium
to coaches Wages
paid to labourers Ground
rent and municipal tax due Received
from sale of old newspaper Expenses for tournament: Paid Outstanding Subscription received from For 2010-2011 For 2011-2012 For 2012-2012 Subscription
outstanding for 2011-2012 Life
membership fees Legacy Furniture
on 1-4-2011 Furniture
on 31-3-2012 |
10,000 20,000 60,000 14,400 1,900 2,400 800 3,400 6,240 2,000 1,050 8,300 1,000 4,000 24,000 6,800 8,500 2,000 20,000 5,000 25,000 |
There was no depreciation on furniture.
7. Jorhat Club has a cash and a bank balance
of Rs. 950 and Rs. 18,000 respectively on 1-4-2011. From the following details,
prepare its receipts and payment A/c for the year ended 31-03-2012.
|
|
(Rs.) |
|
Subscription
received during the year from members: For 2010-2011 For 2011-2012 For 2012-2013 Entrance
Fees Donation
Received Life
Membership fees Rent
received from auditorium Salary
to staff Outstanding
salary Repairs
to Building Sale of
old newspaper Furniture
purchased Bank on
31-03-2012 Sports
goods: 01-04-2011 Sports goods:
31-03-2012 Depreciation
on sports goods at 10% |
3,000 25,000 7,000 8,000 15,000 2,000 1,600 13,200 13,200 950 685 11,520 45,000 10,000 18,500 |
8. The Star Cricketer club had a cash balance
of Rs.500 and a Bank balance of Rs.1000 on 1.4.2011. From the following
details, prepare a Receipts and Payments Account for the year ended 31.03.2012: 2013
|
Particulars |
Amount |
|
Subscription
received for the year Subscription
outstanding on 31.03.12 Subscription
for 2010-11 received during the current year Life
member fees received Donation
for club house received Rent
paid for the year Advance
rent paid Sale of
Furniture (book value Rs.600) Honorarium
to coach Sports
expenses Construction
of club house Salary Printing
and Stationery Postage
and Telegram Maintenance
Grant Depreciation
during the year Salary
Outstanding on 31.03.2013 Outstanding
Salary on 01.04.2011 paid during the year Cash in
hand on 31.03.2012 Stationery
in hand on 31.03.2012 |
16000 2000 1000 5000 10000 6000 600 500 5000 8000 9000 4500 400 600 1000 1000 500 500 1400 100 |
9. Assam
Cricket Club has a Cash and Bank Balances of Rs. 1,600/- and Rs. 20,000/-
respectively on 01-04-2013. From the following details, prepare a Receipts and
Payments Account for the year ended 31-03-2014. 5
2015
|
Particulars |
Rs. |
|
Donation received Entrance fee received Donation received for Building Furniture purchased Salary paid for the year Salary paid in advance Repair to Building Rent received Wages paid Outstanding Salaries Depreciation of furniture Maintenance Grant |
18,000/- 6,000/- 90,000/- 18,000/- 10,500/- 2,000/- 1,500/- 1,500/- 6,000/- 1,500/- 2,000/- 900/- |
|
Subscription received : For 2012 – 13 For 2013 – 14 For 2014 – 15 Life Membership Fees Balance of Bank on 31-03-14 |
8,000/- 25,000/- 1,000/- 4,000/- 1,35,000 |
10. Guwahati Sports Club has a Cash
and Bank balances of Rs. 5,000/- and Rs. 10,000/- respectively on 01/04/2015.
From the following details, prepare a Receipts and Payments Account for the
year ended 31/03/2016: 5
2017
|
|
Rs. |
|
Entrance
fees received Donation
received Donation
received for Building Computer
purchased Salary
paid Repair
to Building Rent
received Wages
paid Outstanding
salaries Depreciation
on Furniture Maintenance
Grant received Subscription
received Life
Membership Fees received Cash in
hand on 31/03/2016 |
8,000/- 10,000/- 10,000/- 12,000/- 5,000/- 6,000/- 5,000/- 3,000/- 2,800/- 13,000/- 8,000/- 10,000/- 10,000/- 40,000/- |
11. North East Club had a Cash balance of Rs.
20,000/- and Bank balance of Rs. 35,000/- respectively on 01/04/2017. From the
following details prepare a Receipts and Payments A/c for the year ended
31/03/2018: 5 2019
|
|
(Rs.) |
|
Subscription
Received: (Rs.) 2016-17 30,000 2017-18 2,25,000 2018-19 10,000 Donation
for Building Entrance
Fee Life
Membership Fee Printing
and Stationery Lighting
Expenses Rent and
Taxes Paid Telephone
Charges Postage Salaries
Insurance
Interest
Received Locker
Rent Received Purchase
of Furniture Cash in
hand as on 31-03-2018 |
2,65,000 60,000 23,000 20,000 38,750 26,250 17,000 2,600 2,000 88,000 15,000 18,000 42,000 2,00,000 23,400 |
Preparation of Income and Expenditure Account
1. Dihing Charitable Society was formed on
1-4-2011. From the following particulars prepare the Income & Expenditure
A/c of the society for the year ended on 31.03.2012 and a balance Sheet as on
that date.
|
Receipts |
Amount |
Payments |
Amount |
|
Subscription
for members Donation
Life
Member Subscription Govt.
Grant: Maintenance Capital |
3,080 2,000 1,000 2,000 20,000 |
Salaries
Scholarship
to Students Free
dispensary to the poor Office
furniture Investment
Doctors
fees Affiliation
fee of Society (till 31-03-2012) Balance
c/d |
850 740 760 1,000 1,500 500 2,000 20,730 |
|
|
28,080 |
|
28,080 |
Additional information:
1.
Outstanding on 31-03-2012:
a.
Free dispensary: Rs. 240.
b.
Subscription from member: Rs. 920
2.
Donation and Life Membership fees has to be
treated as capital receipts
2. The Netaji Subhash Club gives you the following
information:
Receipts and Payment A/c of Star Sporting Club for the year ended
31-12-2011
|
Receipts |
Amount |
Payments |
Amount |
|
To Cash
& Bank To
subscriptions To
Tournament fund To Life
membership fees To
Entrance fees To
Donation for pavilion To Sale
of grass |
2,250 5,800 1,500 2,000 500 2,700 100 |
By
Ground man fees By
Mowing machine By
Salary to coaches By
tournament expenses By
Office expenses By
Sports Equipment By Cash
& Bank |
1,500 1,100 3,600 900 2,900 1,200 3,650 |
|
|
14,850 |
|
14,850 |
Subscription due on 31-12-2011 were Rs. 800.
Subscription received also include subscription for 2012 Rs. 200. The value
placed on the sports equipment in hand on 31-12-2011 was Rs. 1,300. The mowing
machine was purchased on 1.07.2011 and it is to be depreciated @ 20% p.a. Office
expenses Rs. 100 are still due for payment. Prepare Income and Expenditure A/c
of the Club for the year ended 31-12-2011.
3. Following is the receipts and payments A/c
of Ujjala Literacy Club for the year ended 31-03-2012.
|
Receipts |
Amount |
Payments |
Amount |
|
Balance
b/d Subscriptions:
2010-2011 1,200 2011-2012 26,500 2012-2013 500 Interest
on fixed deposits Sale of
old newspapers Government
Grants Sale of
old furniture (Book value Rs. 7,000) |
19,550 28,200 450 1,250 10,000 5,700 |
Salary Newspapers Electricity
Bill Fixed
deposit (on 1-7-2011 @ 9%) Books Rent Furniture
Balance
c/d |
3,000 2,050 1,000 20,000 10,600 6,800 10,500 11,200 |
|
|
65,150 |
|
65,150 |
Additional Information:
a)
Subscriptions outstanding as on 31-3-2011 were
Rs. 2,000 and on 31-3-2012 Rs. 2,500.
b)
On 31-3-2012 salary outstanding was Rs. 600
and Rent outstanding was Rs. 1,200.
c)
The Club owned furniture Rs. 15,000 and books
Rs. 7,000 on 1-4-2012.
Prepare Income & Expenditure A/c for the
year ended 31-3-2012 and ascertain ‘Capital Fund’ on 31-3-2011. Also prepare a
Balance Sheet as on 31st March 2012.
4. Following is the receipts and payments A/c
of Literacy Club for the year ended 31-12-2011.
|
Receipts |
Amount |
Payments |
Amount |
|
Balance
b/d Subscriptions Entrance
Fee Tournament
Fund Sale of
old newspapers Legacy |
10,000 52,000 5,000 26,000 1,000 37,000 |
Salary Billiard
Table Office
Expenses Tournament
Expenses Sports
Equipment Balance
c/d |
15,000 20,000 6,000 31,000 40,000 19,000 |
|
|
1,31,000 |
|
1,31,000 |
Other Information: On 31.12.2011 subscription
outstanding was Rs. 2,000 and on 31.12.2010 subscription outstanding was Rs.
3,000. Salary outstanding on 31.12.2011 was 1,500. On 1.1.2011 the club had
building Rs. 75,000, furniture Rs. 18,000, 12% investment Rs. 30,000 and sports
equipment Rs. 30,000. Depreciation is to be charged on sports equipment
including purchases by 10%. Prepare Income & Expenditure A/c for the year
ended 31.12.2011 and ascertain ‘Capital Fund’ on 31-12-2010. Also prepare a
Balance Sheet as on 31.12.2011.
5. Given below is the Receipts and Payment A/c
of Star Sporting Club for the year ended 31.03.2012.
|
Receipts |
Amount |
Payments |
Amount |
|
To
Balance b/d Cash in hand & bank To
Entrance Fees To
Subscriptions: 2010-2011 1,000 2011-2012 9,000 2012-2013 1,400 To Interest
on Investment To Hire
of Lecture Hall |
4,000 400 11,400 400 2,400 |
By
Salaries By
Electric Charges By
Printing & Stationery By
Furniture purchased By
Investment @ 12% p.a. (Purchased
on 1-7-2011) By
Sundry Expenses By
Balance c/d Cash in
hand & Bank |
4,800 300 500 4,000 6,000 1,000 2,000 |
|
|
18,600 |
|
18,600 |
Prepare an Income & Expenditure A/c for
the year ended 31.2012 and a Balance Sheet as on that date after taking into
consideration the following additional information –
a)
On 31.3.2012 salary outstanding was Rs. 800
and subscriptions accrued were Rs. 600.
b)
Depreciation furniture @ 10% p.a.
c)
On 01-04-2011, the Club possessed furniture
valued Rs. 6,000 and Rs. 400 on account of salary was outstanding.
6. Following is the Receipts and Payments A/c
of Guwahati Club for the year ended 31-12-2011. Prepare an Income & Expenditure
A/c for the year ended 31-12-2011 and a Balance Sheet of the Club as on that
date:
|
Receipts |
Amount |
Payments |
Amount |
|
To Balance
b/d To Subscriptions:
For 2010 For 2011 For 2012 To Sale
of old furniture (Costing Rs. 100) To Rent
from the use of hall To
Profit from entertainment |
250 250 1,000 200 60 740 500 |
By
Salaries By
General Expenses By
Furniture By Books
By
Newspaper By
Balance c/d |
1,200 550 250 100 400 500 |
|
|
3,000 |
|
3,000 |
Additional Information:
1.
The club has 50 members each paying an annual
subscription of Rs. 25. Subscriptions outstanding on 31.12.2010 were Rs. 300.
2.
On 31.12.2011 salary outstanding amounted to
Rs. 100. Salaries paid included Rs. 100 for the year ended 2010.
3.
On 1.1.2011 the club owned Land & Building
valued Rs. 10,000, Furniture Rs. 600 and books Rs. 500.
7. Following is the Receipts and Payment A/c
of Modern Club for the year ended 31.3.2012. Prepare an Income &
Expenditure A/c for the year ended 31.3.2012 and a Balance Sheet of the club as
on that date.
|
Receipts |
Amount |
Payments |
Amount |
|
To
Balance b/d Cash Bank To
Subscriptions: For 2010 - 2011 For 2011 - 2012 For 2012 - 2013 To
Entrance Fees To
Income from entertainment To Sale
of old newspapers |
450 9,550 600 18,000 500 350 2,800 150 |
By
Investment in 8% securities (1.10.2011) By
Furniture By
Salaries By
Stationery By
Electric Charges By Misc.
expenses By
Balance b/d Cash Bank |
10,000 5,400 4,500 1,200 1,400 1,000 1,400 7,500 |
|
|
32,400 |
|
32,400 |
Additional Information:
1.
The club has 400 members each playing an
annual subscription of Rs. 50. Subscriptions in arrears on 2010-2011 were Rs.
800 and received in advance for 2011-2012 Rs. 600.
2.
Stock of stationery on 31st March,
2011 was Rs. 780 and on 31st March, 2012 it was Rs. 860.
3.
On 1st April, 2011 Premises were of
Rs. 16,000. Depreciation to be charged on premises @ 5% and on furniture @ 10%.
8. From the following receipts and payments
A/c for the year ended 2011 and other details of the Jagriti Club, Jorhat,
prepare in income and expenditure A/c for the year ended 31-12-2011:
|
Receipts |
Amount |
Payments |
Amount |
|
Cash
& Bank on 1.1.2011 Entrance
fees Subscription
received Donation
for Building Donation
received Life membership
fees |
12,000 2,000 20,000 30,000 10,000 4,000 |
Upkeep
of ground Salaries
(Rs. 1,000 per month) Electric
Charge News
paper & Journal Furniture
purchased Book
Purchased Construction
of Building Annual
Dinner Cash at
Bank on 1.1.2011 |
6,000 13,000 2,500 2,000 4,000 10,000 25,000 2,000 13,500 |
|
|
78,000 |
|
78,000 |
Additional Information:
a)
The club had Land Rs. 50,000, Sport’s goods
Rs. 5,000 and a Building Fund Rs. 15,000 on 1.1.2011.
b)
Subscription received include Rs. 500 for 2010
and Rs. 200 for 2012 and subscription for 2011 received in 2010 was Rs. 300
c)
50% of the entrance fees and total of life
membership fees is to be capitalized.
d)
Depreciation on Furniture and Sport’s Goods at
10%.
e)
Building construction is in progress.
9. From the following Receipts and Payments
A/c for the year ended 31st December 2002 and other details of Sankardev Club prepare an
Income and Expenditure Account for the year 31st
|
Receipts |
Rs. |
Payments |
Rs. |
|
Cash
in hand on 1.1.02 Subscription
: 2001 2002 2003 Sales
of news papers Life
Membership Fees Donation Donation
for building Interest Maintenance
Grant Sale
of Furniture |
12,000 900 20,000 2,000 100 5,000 6,000 8,000 200 2,000 1,000 |
Salaries Honorarium Travelling
Expenses Sports
Expenses Investment Construction
of Building Rent Scholarship Cash
in hand on 31.12.2002 |
14,000 3,000 2,000 5,000 10,000 7,000 2,000 1,000 13,200 |
|
|
57,200 |
|
57,200 |
Additional
Information:
(i)
Outstanding subscription Rs. 2,500
(ii)
Outstanding salaries Rs. 1,000
(iii)
Subscription for 2002 received in 2001.
10. From
the following Receipts and Payments Account for the year ended 31st
Dec, 2004 and other details of Sunrise Club, prepare an Income Expenditure
Account for the year that ended 31st Dec, 2004.
Receipts and Payments A/c
|
Receipts
|
Rs. |
Payments
|
Rs. |
|
Cash
in hand on 1.1.04 Subscription
received Entrance
Fees Donation
received Donation
for Club house Life
membership fees Maintenance
Grant Sale
of Furniture |
10,000 20,000 1,000 8,000 7,000 5,000 6,000 1,000 |
Salaries Rent
& Taxes Electric
charges Sports
goods purchased Maintenance
of Club house Construction
of Club house Payment
of outstanding expenses Annual
dinner Cash
in hand on 31.12.2004 |
12,000 6,000 3,000 15,000 2,000 12,000 500 5,000 2,500 |
|
|
58,000 |
|
58,000 |
Additional
information
(i)
Subscriptions received include Rs. 500 for 2003 and Rs. 200 for 2005 and
subscription for 2004 received in 2003 was Rs. 200.
(ii)
50% of Entrance Fees and total life membership fees are to be capitalised.
(iii)
Depreciation on sport goods is Rs. 3000.
11. From the following Receipts and Payments A/c
for the year ended 31st March, 2006 and other details of Evergreen
Club, prepare an Income and Expenditure A/c for the year ended 31st
March, 2006.
Receipts and
Payments A/c
|
Receipts
|
Rs. |
Payments
|
Rs. |
|
Cash
in hand on 1.4.05 Cash
at bank on 1.4.05 Entrance
Fees Subscriptions
: 2004-05 2005-06 2006-07 Interest
on investments Hire
of Lecture Hall Maintenance
Grant |
600 6,000 2,000 1,000 9,000 1,500 800 3,000 5,000 |
Salaries Electric
charges Rent Printing
& Stationery Furniture
(Purchased on 1.10.05) Investment
@ 12% (on 1.7.05) Sundry
Expenses Cash
in hand on 31.3.06 Cash
at bank on 31.3.06 |
5,000 600 1,200 1,000 4,000 10,000 1,000 500 5,600 |
|
|
28,900 |
|
28,900 |
Additional
information:
(i)
On 31st March, 2006 Rent and Salary
outstanding were Rs. 800 and Rs. 1,200 respectively and subscriptions accrued
were Rs. 1,000.
(ii)
Furniture is to be depreciated @ 10% p.a.
(iii)
On 1st April, 2005 the Club
possessed furniture valued Rs. 6,000 and outstanding salary was Rs. 500.
(iv) 50% of the
Entrance fees is to be capitalised.
12. From the following Receipts and Payments
A/c for the year ended 31st Dec, 2008 and other details of Tezpur
Club, prepare an Income and Expenditure A/c for the year ended 31st
Dec, 2008.
|
Receipts
|
Rs. |
Payments
|
Rs. |
|
Cash
in hand 1.1.08 Subscription
received Entrance
Fees Donation
received Donation
for club house Life
membership fees Maintenance
Grant Capital
Grant Sale
of furniture |
10,000 20,000 10,000 18,000 17,000 5,000 6,000 7,000 1,000 |
Salaries Rent
& Taxes Electric
charges Sports
Goods purchased Annual
dinner Construction
of club house Sundry
expenses Payment
of outstanding expenses Cash
in hand on 31.12.08 |
12,000 6,000 3,000 25,000 5,000 36,000 2,000 500 4,500 |
|
|
94,000 |
|
94,000 |
Additional
information :
(i)
Subscriptions received include Rs. 5,000 for 2007 and Rs. 2,000 for 2009.
Subscription for 2008 received in 2007 was Rs. 8,000.
(ii)
Total of Entrance fees and Life membership fees are to be capitalised.
(iii)
Depreciation of sports goods is Rs. 2,500.
(iv)
Book value of Furniture sold on the date of sale was Rs. 1,500.
13. From the following Receipts and Payments
A/c and information given below. Prepare Income and Expenditure A/c of Maharana
Club for the year ending 31st Dec, 2006.
|
Receipts
|
Amount |
Payment |
Amount |
|
To
balance b/d To
Entrance fees To
Subscription : 2005 2006 2007 To
Lockers rent To
Special subscription for Governors Party |
1,900 2,650 600 50,800 900 2,500 12,350 |
By
Rent By
Printing & Stationery By
Wages By
Table Tennis Board By
Electric Bill By
Interest By
balance c/d |
16,600 9,200 16,900 12,500 2,400 4,600 9,500 |
|
|
71,700 |
|
71,700 |
Locker rent Rs. 180 relates to 2005 and Rs.
270 is outstanding. Rent Rs. 3,900 has been paid for 2005 and Rs. 3,900 is outstanding.
Printing & Stationery Rs. 936 relates to 2005 and Rs. 1,092 is yet to be
paid. Subscription unpaid for 2006 Rs. 2,604, special subscription for
Governor’s party is outstanding Rs. 1,650. Sport materials of the value of Rs.
48,000 were owned by the Club on 1st January, 2006. This was valued
at Rs. 40,500 on 31st Dec, 2006.
14.
Following is the Receipts and Payments A/c
of Youngmen’s Library for the year ended 31st Dec. 2000.
Receipts
and Payments Account
|
Receipts |
Rs. |
Payments |
Rs. |
|
1.1.2000
to Balance
b/d To
cash in Hand To
Admission fees To
subscriptions To
Lecture Hall hire charges To
Miscellaneous Receipts To
Interest on Investments To
life subscriptions To
sale to furniture |
4,400 3,500 19,500 2,500 350 600 2,000 100 |
By
Salaries & Wages By
rent By
Investments By
postage & stationery By
Electric Charges By
books purchased By
outstanding expenses By
balance c/d Cash
in hand |
6,800 8,250 3,500 1,250 750 6,000 700 5,700 |
|
|
32,950 |
|
32,950 |
Additional
information:
Outstanding subscription Rs. 1,000
60% of admission fees and the whole of life subscriptions are to
be capitalised.
Depreciation on books is Rs. 600.
Prepare an
Income and Expenditure Account of the Library for the year ended 31.12.2000.
15. From
the following items of Receipt and Payment Account of South India Club, prepare
moan Income and Expenditure Account for the year ended 31.03.2013: 2014
|
Salaries
Paid Lighting
Expenses Stationery
(Including Rs.400 for the previous year) Subscription
received (Including Rs.1000 received in advance and Rs. 750 for previous
year) Net
proceeds of refreshment room Miscellaneous
Expenses Interest
paid on loan for 3 months Rent
and Rates (Including Rs.500 prepaid) Locker’s
Rent received |
55000 5500 4000 44000 30000 3000 1200 4500 4900 |
Additional Information: On
31.3.2013, subscription in arrear was Rs. 4700 and interest on loan was
outstanding for 9 months.
16. From the following Receipts and Payments
Account for the year ended 31st December, 2015 and other details of
the Sankardev Club, prepare an Income and Expenditure Account for the year
ended 31st December, 2015: 5
2016
|
Receipts |
Rs. |
Payments |
Rs. |
|
Cash in
hand on 1.1.15 Subscriptions:
2014=900 2015=20,000 2016=2,000 Sale of
Newspapers Life
Membership Fees Donation Donation
for Buildings Interest Maintenance
Grant |
12,000 22,900 100 5,000 6,000 8,000 200 3,000 |
Salaries Honorarium Travelling
Expenses Sport
Expenses Investments Construction
of Buildings Rent Scholarship Cash in
hand on 31-12-15 |
14,000 3,000 2,000 5,000 10,000 7,000 2,000 1,000 13,200 |
|
|
57,200 |
|
57,200 |
Additional Information:
a)
Outstanding Subscription Rs. 2,500/-
b)
Outstanding Salaries Rs. 1,000/-
c)
Subscription for 2015 Rs. 400/- received in
2014.
17. From the following Receipts and Payments Account
for the year ended 31st March, 2017 and other details of KAZIRANGA
SPORTS CLUB, prepare an Income Expenditure Account for the year ended 31st
March, 2017. 2018
Receipts and Payments Account
|
Receipts |
Rs. |
Payments |
Rs. |
|
Cash in
hand on 01.04.16 Subscriptions:
2015-16: 1,000 2016-17: 30,000 2017-18: 2,000 Donation Interest Donation
for Buildings Life
Membership Fees |
10,000 33,000 7,000 3,000 10,000 7,000 |
Salaries
Honorarium
Sports Expenses Rent Travelling
Expenses Purchase
of Furniture Cash in
hand on 31.3.17 |
8,000 5,000 2,000 3,000 2,000 35,000 15,000 |
|
|
70,000 |
|
70,000 |
Additional Information:
a)
Outstanding Salaries = 2,000/-
b) Prepaid Rent = 1,000/-
18. Prepare Income and Expenditure A/c from
the following Receipts and Payments A/c of Ekta Club for the year 31st
December, 2018: 2020
Receipts
and Payments Account
|
Receipts
|
Rs. |
Payments |
Rs. |
|
Cash in
hand on 1/1/2018 Admission
Fee Subscriptions Receipts
from Billiard Rood Interest
on Investment Life
Membership FEE Sale of
Furniture Miscellaneous
Receipts |
4,400 3,500 19,500 2,500 600 2,000 100 350 |
Salary Rent Investment
Postage Telephone
charges Books
Purchased Outstanding
Expenses Cash in
hand on 31/12/2018 |
6,800 8,250 3,500 1,250 750 6,000 700 5,700 |
|
|
32,950 |
|
32,950 |
1)
Outstanding subscription Rs. 1,000.
2)
60% of the admission fees and the whole of the
life membership subscriptions are to be capitalized.
3) Depreciation on Books Rs. 600.
19. Prepare Income and Expenditure Account from the following Receipts and Payments Account and other details of Surya Club for the year ended 31st December, 2019: 5 2022
Receipts
and Payments Account
|
Receipt |
Rs. |
Payments |
Rs. |
|
To Balance b/d: Cash-in-hand
To Subscriptions 2018 900 2019 19,000 2020 1,000 To Sale of newspaper To Life Membership Fee To Donation To Donation for Building To Interest To Maintenance Grant To Sale of Furniture |
10,000 20,900 100 5,000 6,000 8,000 200 2,000 1,000 |
By Salaries By Honorarium By Travelling Expenses By Telephone Charges By Investment By Construction of Building By Rent By Postage By Balance c/d: Cash-in-hand
|
12,000 3,000 2,000 5,000 10,000 7,000 2,000 1,000 11,200 |
|
|
53,200 |
|
53,200 |
Other details:
(1) Outstanding
Salaries Rs. 1,000.
(2) Subscription
Outstanding Rs. 2,000.
(3) Subscription for 2019 received in 2018 Rs. 200
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