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प्रश्न
Expenditure on purchase of a building is a _____.
पर्याय
(a) Revenue
- (b) Capital
(c) Recurring
(d) General
उत्तर
APPEARS IN
संबंधित प्रश्न
| Balance Sheet as on 1st April 2007 | |||
| Liabilities | Amount (Rs) | Assets | Amount (Rs) |
| Entrance Fees | 6,000 | Furniture | 16,800 |
| Capital Fund | 1,03,800 | Laboratory | 20,000 |
| Library | 25,000 | ||
| Investment | 40,000 | ||
| Cash in hand | 1,000 | ||
| Cash at bank | 3,000 | ||
| Outstanding Tuition Fees | 4,000 | ||
| 1,09,800 | 1,09,800 | ||
| Receipts and Payments Account for the year ended 31st March 2008 | |||
| Receipts | Amount (Rs) | Payments | Amount (Rs) |
| To Balance b/d | By Furniture Purchased | 5,400 | |
| Cash in hand | 1,000 | By Salaries | 60,000 |
| Cash at bank | 3,000 | By Rent | 28,000 |
| To Tuition Fees | 80,000 | By Sundry Expenses | 15,200 |
| To Term Fees | 26,200 | By Annual Gathering Expenses | 11,300 |
| To Government Grant | 16,000 | By Insurance | 4,000 |
| To Donation of Library | 30,000 | By Closing Balance | |
| To Interest on Investment | 2,000 | Cash at bank | 34,300 |
| 1,58,200 | 1,58,200 | ||
Adjustments:
1. Tuition fees still receivable are Rs. 10,000.
2. Salaries still payable are Rs. 30,000
3. An insurance premium is paid for one year ending 30.9.2008.
4. Rent paid in advance Rs. 4,000.
5. Depreciate furniture and library at 10%.
Depreciation to be charged on the closing balances of the assets.
With the help of the Balance Sheet and Receipts and Payments Accounts of Adarsh Cultural Club, Mumbai, prepare Income and Expenditure Account for the year ended 31st March, 2013 and the Balance Sheet as on that date :
Balance Sheet as on 01.04.2012
| Liabilities | Amount | Assets | Amount |
| Capital fund | 2,57,000 | Buildings | 2,50,000 |
| Building fund | 50,000 | Furniture | 20,000 |
| Outstanding salary | 1,300 | Outstanding Subscription | 1,000 |
| Cash in hand | 2,400 | ||
| Cash at bank | 34,900 | ||
| 3,08,300 | 3,08,300 |
Receipts and Payments Account for the year ending 31.03.2013
| Receipts | Amount | Amount | Payments | Amount | Amount |
| To Balance b/d | By Salaries | 35,300 | |||
| Cash in hand | 2,400 | By Furniture (Purchased on01.10.2012) |
10,000 |
||
| Cash at bank | 34,900 | By General expenses | 8,400 | ||
| To Subscriptions | By Printing and stationery | 4,200 | |||
| 2011–12 | 1,000 | By Drama expenses | 16,000 | ||
| 2012–13 | 48,000 | By Balance c/d | |||
| 2013–14 | 2,000 | 51,000 | Cash in hand | 4,600 | |
| To Donations for | Cash at bank | 57,800 | |||
| building fund | 20,000 | ||||
| To Drama receipts | 28,000 | ||||
| 1,36,300 | 1,36,300 |
You are also required to consider the additional information given below:
(1) The club had 100 members, each paying 500 as annual subscription.
(2) Furniture to be depreciated at 20 % p.a.
(3) Salaries include Rs .1,300 paid for outstanding salaries for the year 2011‐12.
Salaries outstanding for the year 2012‐13 were 700.
Following is the Receipts and Payments Account and additional information of Kalpana Hospital, Sakri.
|
Receipts and Payments Account for the year ended on 31st March, 2010 |
||||||
|
Dr. |
Cr. |
|||||
|
Receipts |
Amount |
Payments |
Amount |
|||
|
To Balance b/d |
6,000 |
By Medicines |
10,000 |
|||
|
To Subscriptions: |
|
By Honorarium to Doctors |
75,000 |
|||
|
2008-2009 |
7,500 |
|
By Ambulance Maintenance |
44,000 |
||
|
2009-2010 |
95,000 |
|
By Hospital Equip. purchased |
30,000 |
||
|
2010-2011 |
15,000 |
1,17,500 |
By Furniture purchased |
25,000 |
||
|
To Donations |
55,000 |
By Fixed Deposits |
1,00,000 |
|||
|
To Life Membership Fees |
25,000 |
By Balance c/d (31.3.10) |
69,500 |
|||
|
To Hospital Receipts (Revenue) |
1,50,000 |
|
|
|||
|
|
3,53,500 |
|
3,53,500 |
|||
Additional Information:
(1) Outstanding subscription for 2009-2010 is amounted to Rs. 5,000.
(2) Hospital equipments and furniture were purchased on 1.10.2009 and both were to be depreciated at 20% p. a.
(3) Life membership fees are to be capitalized.
(4) Donations represent donations for Building fund.
(5) Staff salary for the current year is outstanding Rs. 7,500.
(6) On 1.4.2009, the hospital had the following assets and liabilities:
Land Rs. 2,50,000, Investments Rs. 50,000, Ambulance Rs. 1,02,500, Bank Loan Rs. 2,00,000.
(7) Capital Fund as on 1.4.2009 was amounted to Rs. 2,16,000.
Prepare: Income and Expenditure Account for the year ending 31st March, 2010 and the Balance Sheet as on that date.
Following is the Balance Sheet and Receipts and Payments Account of the Memorial Hospital, Sawantwadi, Prepare Income and Expenditure A/c for the year ended on 31.03.2010 and the Balance Sheet as on that date.
|
Balance Sheet as on 01.04.2009 |
|||
|
Liabilities |
Amount |
Assets |
Amount |
|
Capital Fund Outstanding Salaries Medical Bill unpaid |
10,04,000
22,000 6,000 |
Cash in Hand Cash at Bank Land and Building Furniture Equipments Outstanding Subscriptions |
6,000 34,000 8,00,000 70,000 1,20,000 2,000 |
|
|
10,32,000 |
|
10,32,000 |
|
Receipts and Payments Account for the year ending 31.03.2010 |
|||||
|
Dr. |
|
Cr. |
|||
|
Receipts |
Amount |
Payments |
Amount |
||
|
To Balance b/d Cash in hand Cash at Bank To Subscriptions (Includes Rs 2,000 received for previous year) To Sale of furniture (Book Value Rs 30,000) To Donations (Revenue) To Life Membership Fees |
6,000 34,000 1,30,000
20,000
44,000 25,000 |
By Salaries (Including of the previous year) By Medicines By Equipments purchased By Taxes By General Expenses By Balance c/d Cash in Hand Cash at Bank |
1,10,000
52,000 20,000 3,000 8,600
15,400 |
||
|
|
2,59,000 |
|
2,59,000 |
||
(1) Outstanding subscriptions Rs 12,000.
(2) Capitalise the amount of membership fees.
(3) Prepaid Taxes Rs 500.
(4) Outstanding Salary Rs 12,000.
(5) Write off depreciation Rs 20,000 from Land and Building and Rs 30,000 from Equipments.
(6) Outstanding Medicine bill as on 1.4.2009 is still due.
Match the following pairs :
| Group ‘A’ | Group ‘B’ | ||
| (1) | Income and Expenditure A/c | (a) | Withdrawals in cash or kind |
| (2) | Drawings | (b) | Negotiable instrument |
| (3) | Bill of Exchange | (c) | Similar to Profit and Loss account |
| (4) | Co-venturers’ Liability | (d) | Limited |
| (5) | Intangible Asset | (e) | Computer |
|
|
|
(f) | Unlimited |
|
|
|
(g) | Goodwill |
|
|
|
(h) | Building |
Answer in one sentence only.
Which receipts are called capital receipts?
Answer in one sentence only.
What do you mean by recurring expenses?
Answer in one sentence only.
What is legacy?
Answer in one sentence only.
What does ‘surplus’ mean?
Answer in one sentence only.
Which receipts are called ‘Revenue Receipts?
Answer in one sentence only.
What is ‘Deficit’?
Answer in one sentence only.
What do you mean by non-recurring expenses?
Write one Word / Term / Phrase for the following statement.
An Account, which is prepared by ‘Not for Profit’ concern, instead of Profit and Loss Account.
Write one Word / Term / Phrase for the following statement.
Excess of income over expenditure.
Select the most appropriate answer from the alternatives given below and rewrite the sentence.
Excess of income over Expenditure is termed as _________________.
State whether the following statement is True or False.
In the Income and Expenditure Account, all incomes received during the year irrespective of the year for which they are received, are to be recorded.
|
LIABILITIES
|
AMOUNT
|
ASSETS
|
AMOUNT
|
|
Capital Fund
|
502000
|
Cash in Hand
|
3000
|
|
Medical bill Unpaid
|
3000
|
Cash at Bank
|
6000
|
|
Land and Building
|
400000
|
||
|
Furniture
|
35000
|
||
|
Equipments
|
60000
|
||
|
Outstanding Subscription
|
1000
|
||
|
505000
|
505000
|
|
Receipts
|
Amount
|
Payments
|
Amount
|
|
To balance b/d
|
By Salaries
|
55000
|
|
|
Cash in Hand
|
3000
|
By Medicines
|
26000
|
|
Cash at Bank
|
6000
|
By Equipment purchased
|
10000
|
|
To Subscription
[Includes Rs. 1000 received for previous year]
|
65000
|
By General Expenses
|
4300
|
|
To Sale of Old Furniture
[Book value Rs. 15000]
|
10000
|
By Balance c/d
|
|
|
To Donations (Revenue)
|
22000
|
Cash in Hand
|
7700
|
|
To Life Membership Fees
|
12500
|
Cash at Bank
|
15500
|
|
118500
|
118500
|
| Trial Balance as on 31st March 2013 | |||
|
Debit Balances
|
Amount
|
Credit Balances
|
Amount
|
|
Salary and Wages
|
17000
|
Sales
|
110000
|
|
Postage and Telegram
|
1750
|
Sundry Creditors
|
72700
|
|
Opening Stock
|
23500
|
Bills Payable
|
40000
|
|
Plant and Machinery
|
70000
|
10% Bank Loan
[Taken on 1st October 2012]
|
60000
|
|
Import Duty
|
3100
|
Outstanding Audit Fees
|
5900
|
|
Purchases
|
98500
|
Capital Accounts:
|
|
|
Sundry Debtors
|
45800
|
Vishal
|
45000
|
|
Bills Receivable
|
16700
|
Vaibhav
|
45000
|
|
Carriage Outward
|
1800
|
||
|
Wages and Salary
|
14000
|
||
|
Printing and Stationery
|
4600
|
||
|
Cash in hand
|
1850
|
||
|
Leasehold premises
|
80000
|
||
|
378600
|
378600
|
||
Following is the balance sheet as on 1.4.2012 and receipts and payments accounts of mahakavi kalidas Library , Nashik . Balance sheet as on 31st March 2013.
Balnce sheet as on 01.04.2012
| Liabilities | Amount (₹) | Assets | Amount (₹) |
| Capital fund | 690000 | Furniture | 72500 |
| Expenses due | 7000 | Books | 551000 |
| Investment in securities | 50000 | ||
| Cash in hand | 8500 | ||
| Cash in Bank | 15000 | ||
| 697000 | 697000 |
Receipts and Payments for the year ending 31st March ,2013
Dr. Cr.
| Receipts | Amount (₹) | Payments | Amount (₹) |
| To Balance b/d | By electricity charges | 6980 | |
| Cash in hand | 8500 | By postage and telegram | 6100 |
| Cash in bank | 15000 | By Purchase of books | 80000 |
| To member's subscriptions | 180000 | By Payment of expenses due | 7000 |
| To Entrance fees | 25000 | By Sundry expenses | 10500 |
| To Sales of old newspapers | 1500 | By Investment in securities | 100000 |
| To Hire of lecture hall | 18000 | By Furniture | 28000 |
| To Interest on securities | 4000 | By Balance c/d | |
| Cash in hand | 6420 | ||
| Cash in bank | 7000 | ||
| 252000 | 252000 |
Adjustments:
(1) During the current year , furniture was purchased on 1.10.2012. Depreciation furniture @ 10 % p.a.
(2) Depreciate books by ₹ 100000
(3) Membership subscription received during the year includes ₹ 15000 , for the year 2013 - 14 and ₹ 7500 , are outstanding for current year.
(4) Capitalised half (1/2) of the entrance fees.
Prepare : Income and Expenditure account for the year ended 31st March 2013 and Balance sheet as on 31st march , 2013.
