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प्रश्न
From the following information, calculate the amount of stationery to be shown in Income and Expenditure Account for the year ended 31st March, 2021:
| Particulars | 1st April, 2020 (₹) |
31st March, 2021 (₹) |
| Creditors for Stationery | 5,600 | 12,800 |
| Stock of Stationery | 25,000 | 35,000 |
During the year ended 31st March, 2021 payments made to creditors amounted to ₹ 62,800. Stationery purchased during the year was ₹ 2,00,000.
उत्तर
| Dr. | In the books of... Stationery Account |
Cr. | |
| Particulars | Amount (₹) |
Particulars | Amount (₹) |
| To Balance b/d | 25,000 | By Income and Expenditure (Bal. fig.) |
1,90,000 |
| To Cash A/c (Purchased) | 2,00,000 | By Balance c/d | 35,000 |
| 2,25,000 | 2,25,000 | ||
Working Note:
Stationary Consumed during the year = Opening Stock + Stationary Purcahsed − Closing Stock of Stationary
= ₹ 25,000 + ₹ 2,00,000 − ₹ 35,000
= ₹ 1,90,000
Note: Creditors for stationery will be ignored because stationery purchased (and not the amount paid for stationery) during the year is given.
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संबंधित प्रश्न
From the following receipts and payments and information given below, Prepare Income and Expenditure Account and opening Balance Sheet of Adult Literacy Organisation as on December 31, 2017.
Receipt and Payment Account for the year ending
as on December 31, 2017
| Receipts | Amount (Rs) | Payments | Amount (Rs) | |
| Balance b/d | General Expenses | 3,200 | ||
| Cash in hand | 4000 | News paper | 1850 | |
| Cash at Bank | 15550 | Electricity | 3000 | |
| Subscriptions | Fixed deposit with bank (on 31.06.2017) @ 10% p.a. |
18000 | ||
| 2016 | 1200 | 28200 | Books | 7000 |
| 2017 | 26500 | Salary | 3600 | |
| 2018 | 500 | Rent | 6500 | |
| Sale of old newspapers | 1250 | Postage charges | 300 | |
| Govt. grant | 12000 | Furniture (purchased) | 10500 | |
| Sale of old furniture (book value Rs 5, 000) | 3700 | Balance c/d | ||
| Interest received on FD | 450 | Cash in Hand | 3000 | |
| Cash at Bank | 8200 | |||
| 65150 | 65150 | |||
Information:
- Subscription outstanding as on 31.12. 2016 Rs 2,000 and on December 31, 2017 Rs 1,500.
- On December 31, 2017 Salary outstanding Rs 600, and one month rent paid in advance.
- On Jan. 01, 2016 organization owned Furniture Rs 12,000, Books Rs 5,000.
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 |
||
| 50000 | 50000 |
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.
From the given Receipts and Payments Account and additional information of Shine Club for the year ended 31st March 2019, prepare Income and Expenditure Account for the year ended 31st March 2019.
Receipts and Payments Account of Shine Club for the year ended 31st March, 2019
| Receipts |
Amount (₹) |
Payments |
Amount (₹) |
| To balance b/d |
50,000 |
By Furniture & equipments |
1,22,000 |
| To donations |
45,000 |
By Salaries |
32,000 |
| To subscriptions : |
|
By balance c/d |
13,400 |
| 2017-18 - 1,600 |
|
|
|
| 2018-19 - 60,000 |
|
|
|
| 2019-20 - 5,000 |
66,600 |
|
|
| To interest received |
5,800 |
|
|
|
1,67,400 |
1,67,400 |
Additional Information :
(i) Furniture and equipments were purchased on 1-10-2018. Depreciation @ 10% p.a. was to be provided on furniture and equipments.
(ii) Subscriptions in arrears for the year 2018-19 were ₹ 2,000
(iii) Outstanding salary ₹ 6,000.
How will the following items be treated while preparing the financial statements of a not-for-profit organization for the year ended 31st March, 2019?
| As at 31-3-2018 (₹) | As at 31-3-2019 (₹) | |
| Creditors for medicines | 33,000 | 67,000 |
| Stock of medicines | 27,000 | 43,000 |
During 2018-19, the payment made to the creditors was ₹ 4,25,000.
How will the following items be treated while preparing the financial statements of a not-for-profit-organization for the year ended 31st March, 2019.
| As at 31-3-18 (₹) | As at 31-3-19 (₹) | |
| Creditors for stationery | 78,000 | 50,000 |
| Stock of stationery | 62.000 | 41,000 |
During 2018-19, payment made to creditors was ₹ 1,80,000.
Income and Expenditure Account records ______.
Credit side balance in the Income and Expenditure Account reveals:
If there is no 'Match Fund', then match expenses are transferred to:
In Receipts and Payments, Account ______ balance is carried forward to the same account for the next accounting period.
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 |
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?
Donations for specific purpose are always capitalised and it is transferred to ______, irrespective of the fact whether the amount is big or small.
Ledger Folio columns are shown by:
Income and Expenditure Account is generally prepared in:
From the following information obtained from the books of 'Murlidhar Charitable Hospital', calculate the amount of medicines to be debited to the Income and Expenditure Account of the hospital for the year ended 31.03.2022.
| Particulars | 31.3.2021 Amount (₹) |
31.3.2022 Amount (₹) |
| Stock of medicines | 1,70,000 | 3,75,000 |
| Creditors for medicines | 5,40,000 | 8,25,000 |
During the year ₹ 11,49,000 were paid to the Creditors for medicines. Medicines of ₹ 3,30,000 were purchased in cash for emergency use.
From the following 'Receipts and Payments Account' of Golden Club for the year ended 31.3.2022, prepare Income and Expenditure Account:
| Receipts and Payments Account of Golden Club for the year ended 31.3.2022 |
|||||
| Receipts | Amount (₹) | Amount (₹) | Payments | Amount (₹) | Amount (₹) |
| Balance b/d | Honorarium | 75,000 | |||
| Cash | 70,000 | 2,70,000 | Stationery | 15,000 | |
| Bank | 2,00,000 | Electricity Bill | 35,000 | ||
| Subscriptions | 2,00,000 | Rent | 1,20,000 | ||
| Entrance Fees | 50,000 | Furniture | 1,80,000 | ||
| Sale of old newspaper | 2,000 | Fixed Deposit @ 9% p.a. on 31.03.2022 | 1,00,000 | ||
| Sale of old furniture (book value ₹ 10,000) | 4,000 | Balancec/d | |||
| Donations | 45,000 | Cash | 26,000 | 76,000 | |
| Life membership fees | 30,000 | Bank | 50,000 | ||
| 6,01,000 | 6,01,000 | ||||
Additional Information:
- Club had 1750 members each paying an annual subscription of ₹ 100.
- Furniture was purchased on 31.3.2022.
