AHSEC Accountancy Question Bank: Accounting for Not for Profit Organisation for Upcoming Exams

AHSEC CLASS 12
ACCOUNTANCY QUESTION BANK

UNIT – 1 PRACTICAL PROBLEMS ON ACCOUNTING FOR NOT FOR PROFIT ORGANISATION

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.

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:            5                   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

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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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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/-

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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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18. Prepare Income and Expenditure A/c from the following Receipts and Payments A/c of Ekta Club for the year 31st December, 2018:                              5                               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

 Additional information:

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.

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