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प्रश्न
Subscriptions received during the year ended 31st March ,2019 are
| ₹ | ₹ | |
| For the year ended 31st March, 2018 | 1,600 | |
| For the year ended 31st March, 2019 | 84,400 | |
| For the year ended 31st March, 2020 | 3,200 | 89,200 |
There are 450 members, each paying an annual subscription of ₹ 200; ₹ 1,800 were in arrears for the year ended 31st March, 2018.
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2019.
उत्तर
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Income and Expenditure Account for the year ended March 31, 2019 |
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Dr. |
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Cr. |
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Expenditure |
Amount (₹) |
Income |
Amount (₹) |
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Subscription |
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(450 Members × Rs 200 each) |
90,000 |
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संबंधित प्रश्न
What is Capital Fund? How is it calculated?
Prepare Income and Expenditure Account and Balance Sheet for the year ended December 31, 2016 from the following Receipt and Payment Account and Balance Sheet of culture club:
Receipt and Payment Account
for the year ending March 31, 2016
| Receipts | Amount (Rs) | Payments | Amount (Rs) | |
| Opening cash balance | 12000 | Furniture | 4,000 | |
| Subscription | Telephone expenses | 800 | ||
| 2014-2015 | 2,000 | 24,000 | Salary | |
| 2015-2016 |
22,000 |
2014-2015 | 1000 | |
| Entrance fees | 2,800 | 2015-2016 | 4000 | |
| Locker rent | 1000 | Newspapers | 700 | |
| Life membership fee | 1200 | Sundry expenses | 1,000 | |
| Government grant | 11,000 | Defence bonds | 18,000 | |
| Land | 20,000 | |||
| Closing cash balance | 2,500 | |||
| 52000 | 52,000 | |||
Balance Sheet
for the year ending March 31, 2015
| Liabilities | Amount (Rs) | Assets | Amount (Rs) |
| Advance locker rent |
200 |
Cash in hand | 12,000 |
| Subscription Received in |
1,000 |
Outstanding Expenses | 3,000 |
| Advance Outstanding salary | 2,000 | Building | 35,000 |
| Loan | 10,000 | ||
| Capital fund |
36,800 |
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| 50000 | 50000 |
Following is the information in respect of certain items of a Sports Club. You are required to show them in the Income and Expenditure Account and the Balance Sheet.
| Details | Amount (Rs) |
| Sports Fund as on April 1, 2016 | 80000 |
| Sports Fund Investments | 80000 |
| Interest on Sports Fund Investments | 8000 |
| Donations for Sports Fund | 30000 |
| Sports Prizes awarded | 16000 |
| Expenses on Sports Events | 7000 |
| General Fund | 200000 |
| General Fund Investments | 200000 |
| Interest on General Fund Investments | 20000 |
As at March 31, 2017 the following balances have been extracted from the books of the Indian Chartered Accountants Recreation Club and you are asked to prepare (1) Trading Account for ascertaining gross profit derived from running restaurant and dining room and (2) Income and Expenditure Account for the year ended March 31, 2017 (3) and a Balance Sheet as at that date.
| Debit Balances | Rs |
Credit Balances |
Rs |
| Stock-in-hand | 1170 | Receipts Dining Room | 87660 |
| Purchases | 24660 | Subscriptions | 9450 |
| Dining Room | 32370 | Billiard's Receipts | 7300 |
| Rent | 10470 | Sunday Receipts | 410 |
| Wages | 18690 | Interest on Fixed Deposit | 270 |
| Repairs and Renewals | 5400 | Sundry Creditors | 5310 |
| Fuel and Light | 5280 | Grant from Institute (permanent) | 42000 |
| Misc. Expenses | 4050 | Income and Exp. A/c (1.4.16) | 1380 |
| Cash in hand | 560 | Suspense A/c (See note) | 60 |
| Cash at bank | 2760 | ||
| Fixed Deposit | 8500 | ||
| Sundry Debtors | 2250 | ||
| China glass, cutlery and linen | 600 | ||
| Billiard Table | 2070 | ||
| Fixtures and Fittings | 870 | ||
| Furniture | 4140 | ||
| Club Premises | 30000 | ||
| 1,53,840 | 1,53,840 |
On March 31, 2016 stock of restaurant consisted of Rs 900 and Rs 60 respectively. Provide depreciations Rs 60 on fixtures and fittings, Rs 390 on billiard table and Rs 560 on furniture.
In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March, 2018. On 31st March, 2019, subscriptions due but not received were ₹ 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2019 as subscription?
How are the following dealt with while preparing the final accounts for the year ended 31st March, 2019?
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RECEIPTS AND PAYMENTS ACCOUNT (AN EXTRACT) |
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Dr. |
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Cr. | ||
| Receipts | ₹ |
Payments |
₹ | |
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By Payments for Medicines | 1,50,000 | ||
Additional information :
| As at 1st April, 2018 (₹) |
As at 31st March, 2019 (₹) |
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| Stock of Medicines | 50,000 | 75,000 |
| Creditors for Medicines | 40,000 | 60,000 |
What are the significant sources of income for not-for-profit-organization?
What is the nature of the Income and expenditure Account?
What is the nature of sales of periodicals?
Income and Expenditure Account records ______.
Income and Expenditure Account is a ______.
Credit side balance in the Income and Expenditure Account reveals:
Assertion (A): The Income and Expenditure Account is like the cash book.
Reason (R): Income and Expenditure Account shows the surplus or deficit that is earned during the financial year by the non-profit organisation.
Subscription Outstanding at the beginning of the current year will be:
From the following which item is not entered in the Income and Expenditure Account?
Salary paid for the year ended 31st March, 2010 amounted to ₹ 75,000. How much amount will be recorded in Income and Expenditure Account in the following case?
| Year | 31-3-2009 | 31-3-2010 |
| Outstanding Salary | 6,500 | 6,000 |
| Prepaid Salary | 1,200 | 1,000 |
If there is a 'Match Fund', then match expenses and incomes are transferred to ______
Receipts and payments account is prepared with the help of:
The amount received from sale of old sports materials by an organisation will be shown in which of the following?
Sports expenses of Friends Club are ₹ 27,000 (including ₹ 7,000 prepaid expenses). The amount to be credited to the Receipts and Payments account will be:
