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प्रश्न
Following is the Receipts and payments account of Virudhunagar Volleyball Association for the year ended 31st December, 2018.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | |||
| Receipts | ₹ | ₹ | Payments | ₹ | ₹ |
| To balance b/d | By Match expenses | 25,000 | |||
| Cash in hand | 5,000 | By Upkeep of pavilion | 17,000 | ||
| To Subscription | By Secretary’s honorarium | 18,000 | |||
| 2017 | 10,000 | By Bats and balls purchased | 22,000 | ||
| 2018 | 55,000 | By Grass seeds | 2,000 | ||
| 2019 | 5,000 | 70,000 | By Fixed deposit | 58,000 | |
| To Donations | 40,000 | By Sundry expenses | 3,000 | ||
| To Match fund receipts | 30,000 | By Balance c/d | |||
| To Interest on fixed deposit | 8,000 | Cash in hand | 7,000 | ||
| To Miscellaneous receipts | 5,000 | Cash at bank | 6,000 | 13,000 | |
| 1,58,000 | 1,58,000 | ||||
Additional information:
- On 1.1.2018, the association owned investments ₹ 10,000, premises and grounds ₹ 40,000, stock of bats and balls ₹ 5,000.
- Subscription ₹ 5,000 related to 2017 is still due.
- Subscription due for the year 2018, ₹ 6,000.
Prepare income and expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
उत्तर
| Dr. | Income and Expenditure Account for the year ended 31.12.18 | Cr. | ||
| Expenses | ₹ | Income | ₹ | ₹ |
| To Upkeep of pavilion | 17,000 | By Subscription | 55,000 | |
| To Secretary’s honorarium | 18,000 | (+) O/s for 2018 | 6,000 | 61,000 |
| To Grass seeds | 2,000 | By Donations | 40,000 | |
| To Sundry expenses | 3,000 | By Match fund receipts | 30,000 | |
| To Bats and balls purchased | 22,000 | (−) Match Fund Exp. | 25,000 | 5,000 |
| To Income over Expenditure (Surplus) | 52,000 | By Interest on fixed deposit | 8,000 | |
| By Miscellaneous receipts | 5,000 | |||
| 1,19,000 | 1,19,000 | |||
Opening Balance Sheet as on 1.1.18
| Liabilities | ₹ | Assets | ₹ |
| Capital Fund | 75,000 | Cash | 5,000 |
| Investment | 10,000 | ||
| Premises | 40,000 | ||
| Bats and Balls | 5,000 | ||
| Subscription O/s 2017 | 15,000 | ||
| 75,000 | 75,000 |
Balance Sheet as on 31.12.2109
| Liabilities | ₹ | ₹ | Assets | ₹ | ₹ |
| Subscription Received in Adv. | 5,000 | O/s Subscription | |||
| Capital Fund | 75,000 | 2017 | 5,000 | ||
| (+) Surplus | 52,000 | 1,27,000 | 2018 | 6,000 | 11,000 |
| Fixed deposit | 58,000 | ||||
| Investment | 10,000 | ||||
| Premises | 40,000 | ||||
| Cash in Hand | 7,000 | ||||
| Cash at Bank | 6,000 | ||||
| 1,32,000 | 1,32,000 |
APPEARS IN
संबंधित प्रश्न
Answer in One Sentence:
What is Depreciation?
Select the most appropriate alternatives given below and rewrite the sentence :
______________ is a statement which shows the financial position of business on a specific date.
Select the most appropriate alternatives given below and rewrite the sentence :
Do you agree or disagree with the following statement :
Balance Sheet is a statement as well as an account.
Bank overdraft should be shown ______.
Balance sheet shows the ______ of the business.
Prepare trading and profit and loss account and balance sheet in the books of Deri, a trader, from the following balances as of March 31, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Stock | 10,000 | Sales | 1,22,500 |
| Cash | 2,500 | Creditors | 5,000 |
| Bank | 5,000 | Bills payable | 2,000 |
| Freight inwards | 750 | Capital | 52,000 |
| Purchases | 95,000 | ||
| Drawings | 4,500 | ||
| Wages | 27,500 | ||
| Machinery | 50,000 | ||
| Debtors | 13,500 | ||
| Postage (office) | 150 | ||
| Sundry expenses | 850 | ||
| Rent paid | 2,500 | ||
| Furniture | 17,250 | ||
| 2,29,500 | 2,29,500 |
Closing stock (31st March, 2018) ₹ 8,000.
From the following Receipts and Payment account and from the information given below of Ramanathapuram Sports Club, prepare Income and Expenditure account for the year ended 31st December, 2018 and the balance sheet as on that date.
| Dr. | Receipts and Payments Account for the year ended 31st December, 2018 | Cr. | |||
| Receipts | ₹ | ₹ | Payments | ₹ | ₹ |
| To Balance b/d | By Rent | 11,000 | |||
| Cash in hand | 5,000 | By Entertainment expenses | 11,200 | ||
| Cash at bank | 10,000 | 15,000 | By Furniture | 10,000 | |
| To Subscription | By Sports materials purchased | 13,000 | |||
| 2017 | 12,000 | By Match expenses | 12,000 | ||
| 2018 | 33,000 | By Investments made | 28,000 | ||
| 2019 | 16,000 | 61,000 | By Balance c/d | ||
| To Entrance fees | 6,000 | Cash in hand | 1,300 | ||
| To General donations | 7,000 | Cash at bank | 4,000 | 5,300 | |
| To Sale of old sports materials | 1,000 | ||||
| To Miscellaneous receipts | 500 | ||||
| 90,500 | 90,500 | ||||
Additional information:
- Capital fund as on 1st January 2018 ₹ 30,000.
- Opening stock of sports material ₹ 3,000 and closing stock of sports material ₹ 5,000.
What is meant by Grouping and Marshalling of assets and liabilities? Explain the ways in which a balance sheet may be marshalled.
Calculate the Capital.
| Assets | (₹) | Liabilities | (₹) |
|
Building |
20,000 |
Bills Payable | 18,000 |
| Furniture | 15,000 | Creditors | 20,700 |
| Debtors | 30,000 | Outstanding Wages | 1,250 |
| Investments | 10,000 | ||
| Cash at Bank | 5,000 | ||
| Plant & Machinery | 20,000 |
