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प्रश्न
How are the following dealt with while preparing the final accounts for the year ended 31st , 2019?
| RECEIPTS AND PAYMENTS ACCOUNT (AN EXTRACT) for the year ended 31st March, 2019 |
||||
| Dr. | Cr. | |||
| Receipts | ₹ | Payments | ₹ | |
| By Payments for Sports Material | 1,40,000 | |||
| BALANCE SHEET (AN EXTRACT) as at 1st April, 2018 |
||||
|
Liabilities |
₹ |
Assets |
₹ | |
| Creditors for Sports Materials | 6,000 | Sports Materials | 8,000 | |
Additional information :
Sports Materials in Hand on 31st March, 2019 – ₹ 22,000.
उत्तर
|
Income and Expenditure Account for the year ended March 31, 2019 |
||||||
|
Dr. |
|
Cr. |
||||
|
Expenditure |
Amount (₹) |
Income |
Amount (₹) |
|||
|
Sports Material |
1,40,000 |
|
|
|
||
|
Add: Opening Stock |
8,000 |
|
|
|
||
|
Less: Closing Stock |
(22,000) |
|
|
|
||
|
Less: Creditors in the beginning |
(6,000) |
1,20,000 |
|
|
||
|
Balance Sheet as on March 31, 2019 |
|||
|
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
|
|
|
Stock of Sport Materials |
22,000 |
Alternatively, Sports Material consumed can also be calculated as
|
Creditors for Sports Material Account |
|||||
|
Dr. |
|
Cr. |
|||
|
Expenditure |
Amount (₹) |
Income |
Amount (₹) |
||
|
Bank A/c |
1,40,000 |
Balance b/d (Creditors in the beginning) |
6,000 |
||
|
(Amount paid for sports materials) |
|
Purchases A/c (Balancing Figure) |
1,34,000 |
||
|
|
1,40,000 |
|
1,40,000 |
||
Sports Material Consumed
= Opening Stock + Purchases – Closing Stock
= 8,000 + 1,34,000 – 22,000 = Rs 1,20,000
APPEARS IN
संबंधित प्रश्न
How are the following dealt with while preparing the final accounts of a club?
| TRIAL BALANCE as at 31st March, 2019 |
||
| Particulars |
Dr.(₹)
|
Cr. (₹) |
| Match Fund | ........ | 80,000 |
| Match Fund Investments | 72,000 | ......... |
| Match Fund Bank Balance | 35,000 | ....... |
| Interest on Match Fund Investments | ......... | 2880 |
| Match Expenses | 5,500 | ......... |
Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2019 of a Not-for-profit Organisation:
Case I
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case II
Expenditure on construction of Pavilion is ₹ 6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2018 is ₹ 10,00,000 and Capital Fund as at 31st March, 2018 is ₹ 20,00,000.
Case III
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From the following information of a Not-for-Profit Organisation, show the 'Sports Materials' item in the Income and Expenditure Account for the year ended 31st March, 2019 and Balance Sheets as at 31st March, 2018 and 31st March, 2019:
| Particulars | 31st March, 2018 ₹ |
31st March, 2019 ₹ |
| Stocks of Sports Materials | 6,200 | 4,800 |
| Creditors for Sports Materials | 9,800 | 7,200 |
| Advance to Suppliers for Sports Materials | 11,000 | 19,000 |
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| Particulars | Amount (₹) |
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| General Fund as on 1.4.2020 | 10,00,000 |
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| Particulars | ₹ |
| Match Fund (as on 31st March, 2020) | 1,70,000 |
| Match Expenses (paid during the year ended 31st 2,50,000 March, 2021) | 2,50,000 |
| Donations for Match (Received during the year ended 31st March, 2021) | 90,000 |
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| Particulars | Amount (₹) |
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| Prize fund Investment (1st April, 2020) | 4,80,000 |
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