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प्रश्न
Not for Profit Concern renders __________ services to public at large.
पर्याय
Commercial
Social
Individual
Group
उत्तर
Not for Profit Concern renders Social services to public at large.
संबंधित प्रश्न
Miss Kalpana started her business with a capital of 1,30,000 on 1st April, 2015. Her financial position on 31st March 2016 was as follows:
| Amount ( Rs) | |
| Cash | 9,120 |
| Stock | 10,250 |
| Bills payable | 12,880 |
| Creditors | 17,180 |
| Debtors | 31,000 |
| Prepaid insurance | 550 |
| Bills receivable | 29,120 |
| Premises | 85,800 |
| Vehicles | 40,200 |
Additional information :
1. Miss Kalpana brought additional capital of 20,000 on 30th September, 2015
2. Interest on capital is to be allowed at 5% p.a.
3. She withdrew 10, 000 for personal use.
4. Reserve for doubtful debts is to be provided at 2½ % after writing off bad debts of 1,000.
5. Depreciate vehicles at 10% p.a. and premises at 5 % p.a.
6. Creditors were overvalued by 2,180.
Prepare :
(1) Closing Statement of Affairs as on 31.03.2016.
(2) Statement of Profit or Loss for the year ended 31.03.2016.
State whether the following statement is True or False with reasons.
Not for Profit Concerns do not have profit motive.
From the following Receipts and Payments Account of Nanasaheb Patil Engineering College, Faizpur for the year ending 31 March 2013 and additional information, Prepare Income and Expenditure Account for year ending 31/03/2013 and a Balance Sheet as on that date.
Receipts and Payments Account for the year ending 31.03.2013
Dr. Cr.
| Receipts |
Amount (Rs.)
|
Payments |
Amount (Rs.)
|
| To Balance b/d Cash in Hand Cash at Bank |
15,950 100,070 |
By Salaries to |
850,500 181,000 |
| To Interest | 51,000 |
By Electricity |
51,900 |
| To Subscriptions | 25,800 | By Books | 57,800 |
| To Life Membership Fees | 20,500 | By Furniture | 45,000 |
| To Donations | 636000 | By Stationery | 19,950 |
| To tuition Fees | 1120,000 | By Fixed Deposit 31/03/2013 | 750,000 |
| To Term Fees | 200,900 | By Balance c/d Cash in Hand Cash at Bank |
13500 262,500 |
| To Admission Fees | 55,000 | ||
| To Sundry Receipts | 6,930 | ||
| 2232,150 | 2232,150 |
Additional Information:
1)
| Particulars |
01/04/2012 |
31/03/2013 |
| Books |
5,50,000 |
5,50,000 |
| Furniture | 2,15,000 | 200,000 |
| Building Fund | 935,000 | ? |
| Fixed Deposits | 800,000 | ? |
| Capital Fund | 746,020 | ? |
2) 50% of Donations are for Building Fund and the balance is to be treated as revenue income.
3) Outstanding Subscription Rs 4,200.
4) Life Membership Fees are to be capitalized.
Following is the accounting information for the year 2009-2010 of Cricket Club, Pune, You are required to prepare Income and Expenditure Account as on 31.03.2010 and Balance Sheet as on that date.
Balance Sheet as on 01.04.2009
| Liabilities |
Amount
(Rs.)
|
Assets |
Amount
(Rs.)
|
Amount
(Rs.)
|
| Capital Fund | 67,100 | Land | 120,000 | |
| Building Fund | 54,000 | Sports Material | 32,000 | |
| Bank Overdraft | 37,400 | Cash in Hand | 2,200 | |
| Outstanding Subscriptions | ||||
| 2007-2008 | Rs.1800 | |||
| 2008 - 2009 | Rs.2500 | 4,300 | ||
| 158,500 | 158,500 |
Receipts and Payments Account for year ending on 31-03-2010
Dr. Cr.
| Receipts |
Amount (Rs.)
|
Amount (Rs.)
|
Payments |
Amount (Rs.) |
Amount |
| To Balance b/d (cash in Hand) |
2200 | Bank Overdraft (repaid) | 37,400 | ||
| To subscription | 69,800 | By Salaries | 25,600 | ||
| 2007-2008 | 1800 | By Electricity Charges | 2,250 | ||
| 2008-2009 | 2500 | By Rent and Taxes | 1,750 | ||
| 2009-2010 | 65500 | By Printing and Stationery | 5,100 | ||
| By Entertainment Expenses 31/03/2010 |
8,700 | ||||
| To Donations | 11,000 | By Balance c/d | |||
| To Entertainment Receipts | 8,800 | Cash in Hand Cash at Bank |
3,000 10,000 |
||
| To Entrance Fees | 2,000 | ||||
| 93,800 | 93,800 |
Adjustments:
1) Donation are received for Building Fund.
2) Entrance Fees are to be Capitalized.
3) Outstanding Subscription Rs 1,500.
4) Depreciate sport Material @ 12 1/2% p.a.
(Accounts of a Charitable Hospital)
Following information has been provided by “Janseva Charitable Hospital”, Latur. You are required to prepare Income and Expenditure Account for the year ending on 31/03/2013 and Balance Sheet as on that date.
Balance Sheet as on 01/04/2012
| Liabilities |
Amount (Rs.) |
Assets |
Amount (Rs.) |
| Capital Fund | 10,37,000 | Building | 10,00,000 |
| Bank Loan | 600,000 | Ambulance | 350,000 |
| Outstanding bill for Drugs | 45,000 | Stock of Drugs | 35,000 |
| Hospital Equipments | 295,000 | ||
|
Cash in Hand |
2,000 | ||
| 16,82,000 | 16,82,000 |
Receipts and Payments Account for the year ending 31.03.2013
Dr. Cr.
| Receipts |
Amount (Rs.)
|
Payments |
Amount (Rs.)
|
| To Balance b/d | 2,000 | By Purchases of Drugs | 190,000 |
| To subscription | 210,000 | By Salary of staff | 85,000 |
| To Life Membership Fees | 27,500 | By Honararium to Doctors | 385,000 |
| To Hospital Receipts (Revenue) | 520,900 | By Repairs and Maintenance | 17,900 |
| By Furniture | 40,000 | ||
|
By General Expenses |
12,600 | ||
|
By Balance c/d |
29,900 | ||
| 760,400 | 760,400 | ||
Adjustments:
1) On 31/03/2013 stock of Drugs was valued Rs 20,000.
2) Depreciate Building @ 5% p.a. and Ambulance by Rs 20,000
3) Life Membership Fees are to be capitalized.
From the following information supplied to you, prepare Income and Expenditure Account for the year ending on 31/03/2013 and Balance Sheet as on that date for Suryodaya Club, Nasik.
Balance Sheet as on 01/04/2012
| Liabilities |
Amount (Rs.) |
Assets |
Amount (Rs.)
|
| Capital Fund | 50,000 |
Land |
60,000 |
| Bank Overdraft | 35,000 | Outstanding Subscriptions | 5,000 |
| Outstanding Salary | 2,000 | Prepaid Insurance Premium | 2,500 |
| Cash in Hand | 9,500 | ||
| Furniture | 10,000 | ||
| 87,000 | 87,000 |
Receipts and Payments Account for the year ending 31.03.2013
Dr. Cr.
| Receipts |
Amount (Rs.)
|
Payments | Amount (Rs.) | Amount (Rs.) |
| To Balance b/d | 9,500 | By Bank Overdraft (Repaid) | 35,000 | |
| To Subscription | 95,000 | By Salary | 12,500 | |
| To Admission Fees | 7,500 | By Insurance Premium | 8,000 | |
|
By Interest |
1,700 | |||
| By Miscellaneous Expenses | 4,400 | |||
| By Furniture | 20,000 | |||
| By Balance c/d Cash in Hand Cash at Bank |
5,400 25,000 |
30,400 | ||
| 112,000 | 112,000 |
Adjustments:
1) Subscriptions received, includes Rs 3,000 for 2011-2012 and Outstanding Subscriptions for 2012-2013 was Rs 8,000.
2) Salary Paid includes Rs 2,000 Paid for last year
3) On 31/03/2013, Prepaid Insurance Premium was Rs 3,000
4) Admissions Fees are to be capitalized.
5) Depreciate Furniture by Rs 2,000.
(Only Income and Expenditure Account)
The following is the Receipts and Payments Account of Star Citizen’s Association, Bilaspur for the year ending on 31/03/2012
Receipts and Payment Account for the year ending on 31/03/2012
Dr. Cr.
| Receipts |
Amount
(Rs.)
|
Amount
(Rs.)
|
Payments |
Amount
(Rs.)
|
Amount
(Rs.)
|
| To Balance b/d | 5,500 | By Postage and Telegram | 1,500 | ||
| To Subscriptions | 87,900 | By Stationary Purchased | 6,000 | ||
| 2010-2011 | 3,900 | By Fixed Deposits | 100,000 | ||
| 2011-2012 | 81,500 | By Picnic Expenses | 7,900 | ||
| 2012-2013 | 2,500 | By Salaries | 20,000 | ||
| To Entrance Fees (to be Capitalized) |
2,000 | By Annual General - meeting expenses |
4,500 | ||
| To Donations | 50,000 | By Insurance Premium | 3,450 | ||
| To Legacies | 10,000 |
By Sundry Expenses |
4,800 | ||
| To Interest on Deposits | 30,000 | By Furniture | 26,000 | ||
| To Picnic Receipts | 5,750 | By Balance c/d | 17,000 | ||
| 191,150 | 191,150 |
Adjustments:
1) Outstanding Picnic Receipts Rs 4,250.
2) Furniture was purchased on 01/10/2011 and it is to be depreciated @ 10% p.a.
3) Outstanding subscriptions for current year Rs 8,200.
4) Stock of Stationery on 01/04/2011 was Rs 650 and on 31/03/2012 was Rs 1,150.
5) Entries amount of legacies and 50% of Donations are to be capitalized.
With the above information, you are required to prepare Income and Expenditure Account for the year ending on 31/03/2012.
(Newly started Associations)
Following is the Receipts and Payments Account of Bavdhan Pensioners Association newly started on 01.04.2010.
Receipts and Payment Account for the year ending on 31-03-2011
Dr. Cr.
| Receipts |
Amount
(Rs.)
|
Amount
(Rs.)
|
Payments |
Amount
(Rs.)
|
Amount
(Rs.)
|
| To Subscriptions received | 93,900 | By rent | 6,000 | ||
| For 2010-2011 | 85,000 | By Travelling Expenses | 2,800 | ||
| For 2011-2012 | 6,900 | By Expenses for get-together Function | 3,300 | ||
| For 2012-2013 | 2,000 | By Charity | 1,000 | ||
| To Entrance Fees | 11,000 | By Salaries | 4,500 | ||
| To Donations | 25,000 | By Furniture | 30,500 | ||
| By Fixed Deposit | 50,000 | ||||
| By Balance c/d | 31,800 | ||||
| 129,900 | 129,900 |
Adjustments:
1) Outstanding Subscription for current year Rs 10,000.
2) Entrance Fees are to be capitalized.
3) ‘Capital Fund’ should be created out of Entrance Fees and Surplus of the current year’.
4) Depreciate Furniture by Rs 2,500.
You are required to prepare Income and Expenditure Account for the year ending on 31/03/2011 and Balance Sheet as on that date.
(Presentation of Subscriptions only)
With the information given below regarding ‘Subscription’ give accounting effects of it in the Final Accounts of a ‘Not for Profit’ concern.
Receipts and Payments Account for year ending on 31-03-2013
Dr. Cr.
| Receipts |
Amount (Rs.) |
Amount (Rs.) |
Payments | Amount (Rs.) | Amount (Rs.) |
| To subscriptions received | 487,500 |
Additional Information:
• Subscription received during the year, includes
• Subscriptions received for 2011-2012 Rs 17,500 and for 2013-2014 Rs 15,000
• There are 500 members of the concern and each member pays Rs 1,000 as annual subscription.
• During the year 2011-2012 subscription received for the year 2012-2013 was Rs 25,000.
(Presentation of Subscriptions only)
Balance Sheet as on 01/04/2012
| Liabilities |
Amount (Rs.)
|
Amount (Rs.)
|
Assets |
Amount (Rs.) |
Amount (Rs.) |
| Subscription received in |
Outstanding subscriptions |
||||
| Advance for 2012-2013 | 15,000 | 2010-2011 | 20,000 | ||
| 2011-2012 | 30,000 | 50,000 |
Receipts and Payments Account for the year ending on 31-03-2013
Dr. Cr.
| Receipts | Amount (Rs.) | Amount (Rs.) | Payments | Amount (Rs.) | Amount (Rs.) |
| To subscriptions | |||||
| 2010-2011 | 16,000 | ||||
| 2011-2012 | 25,000 | ||||
| 2012-2013 | 330,000 | ||||
| 2013-2014 | 19,000 |
Adjustment:
Outstanding Subscription for 2012-2013 is Rs 22,000. With the above information present the item 'Subscription’ in Income and expenditure Account and Balance sheet for the year ended on 31st March 2013.
(Calculation of Drugs Consumed during the year)
From the information given below calculate the amount of Drugs consumed in a hospital, during the year 2012-2013. Show its presentation in Income and Expenditure Account and Balance Sheet as on 31-03-2013.
| Stock Drugs in Hand | On 01-04-2012 Rs 25,000 | On 31-03-2013 Rs 27,000 |
|
Drugs purchased during the year |
Rs 1,20,000 |
- |
| Bill of drugs payable on 31-03-2013 | Rs 19,500. | - |
Given below is the balance sheet as on 1st April, 2015 and Receipts and Payments Account for the year ending 31st March, 2016 of Decent sports Club, Kudal.
From the given information prepare Income and Expenditure Account for the year ended 31st March, 2016 and the Balance Sheet as on that date :
Balance Sheet as on 1st April, 2015
Dr Cr
| Liabilities | Amount (Rs.) | Assets | Amount (Rs.) |
| Capital Fund | 9,25,000 | Play-ground | 8,00,000 |
| Building fund | 5,00,000 | Furniture | 36,000 |
| Subscription received in advance for the year | Stock of sports material | 44,000 | |
| 2015 - 2016 | 9,000 | Building fund investment | 5,00,000 |
| Cash at bank | 20,000 | ||
| Outstanding subscriptions | 34,000 | ||
| 14,34,000 | 14,34,000 |
Receipts and Payments Account
for the year ending 31st March, 2016
Dr Cr
| Receipts | Amount (Rs.) | Payments | Amount (Rs.) |
| To Balance c/d | By Sports material purchased | 52,000 | |
| Cash in bank | 20,000 | By salaries and wages | 87,000 |
| To Subscription | 201,800 | By office expenses | 126,000 |
| To Donations | 56,000 | By Telephone charges | 12,400 |
| To Admission fees | 13,000 | By Balance c/d | |
| To Sundry Receipts | 2,700 | Cash at bank | 34,100 |
| To Interest on Investment in building fund | 18,000 | ||
| 3,11,500 | 3,11,500 |
Adjustment :
(1) Stock of sports material in hand on 31st March, 2016 was Rs. 48,000.
(2) Admissin fees and donations are to be capitalised.
(3) Subscription received during the year included Rs. 34,000 for previous year and Rs. 10,000 for the next year. Current year's subscription Rs. 29,000 is to be received.
Following is the Receipts and payments Accounts and additional information of Jeevan Hospital , Kolhapur . Prepare Incomeand Expenditure Account for the year ending 31st March , 2016 and the balance Sheet as on that date.
Receipts and Payments Account for the year
ended on 31st March , 2016
Dr. Cr.
| Receipts | Amount (₹) | Payments | Amount (₹) | |
| To Balance B/d | 12000 | By Medicine | 20000 | |
| To Subscription | By Honorarium to doctors | 150000 | ||
| 2014 - 2015 | 15000 | 235000 | By Ambulance maintance | 88000 |
| 2015 - 2016 | 190000 | By Hospital equipment purchased | 60000 | |
| 2016 - 2017 | 30000 | By Furniture purchased | 50000 | |
| To Donation for building fund | 110000 | By Fixed deposit | 200000 | |
| To Life membership fees | 50000 | By Balance c/d | 139000 | |
| To Hospital receipts (Revenue) | 300000 | |||
| 707000 | 707000 | |||
Additional information :
(1) Outstanding subscription for 2015 - 2016 is 10000.
(2) Hospital equipment and furniture were purchased on 01.10.2015 and both the assets were to be depreciated @ 20 % p.a.
(3) Life membership fees are to be capitalized.
(4) Staff salary for current yera is outstanding ₹ 15000
(5) On 01.04.2015 the hospital had the following assets and liabilities :
Land ₹ 500000;
Investment ₹ 100000 ;
Bank loan ₹ 400000 ;
Ambulance ₹ 205000
(6) Capital fund as on 01.04.2015 was ₹ 432000.
Not for Profit Organization never is engaged in __________ activities.
Not for Profit organization is called ________ organization.
Complete the following sentence.
"______ also known as admission fee is paid only once by the member at the time of becoming a member. In case of organizations like clubs and some charitable institutions".
How would you treat the following item in the case of a 'not-for-profit' organization?
"Table Tennis match expenses Rs.4.000."
Complete the following sentence.
______ is a membership fee paid by the member on annual basis. This is the main source of income for such organizations.
Pick the odd one out:
Distinguish between profit and not-for-profit organisation.
What is meant by a Not For Profit Organisation?
Not for Profit Concern renders ______ services to public at large.
Not for Profit Organization is also called ______ organization.
Not for Profit Concern renders ______ services to public at large.
The branch of economics that deals with the allocation of resources.
- Micro economics
- Macro economics
- Econometrics
- None of these
The branch of economics that deals with the allocation of resources.
- Micro economics
- Macro economics
- Econometrics
- None of these
The branch of economics that deals with the allocation of resorces.
- Micro economies
- Macro economies
- Econometrics
- None of these
Assertion: The SI system of units is the suitable system for measurements.
Reason: The SI unit of temperature is kelvin.
Which one of the following is correctyl matched?
Find the Odd one.
Find the odd one.
Ethylene is synthesised in ______.
Ethylence is synthesised in ______.
The pressure of a liquid column ______ with the depth of the column.
ANALOGY
Knot in a thread : ______ friction; ball bearing : ______ friction
Write the word/phrase/term, which can substitute the following sentence.
Persons who form the partnership firm.
Find the incorrect pair from group 'B', and write the corrected ones.
Find the incoreect pair from group A and B.
What is the correct chronological order of four civilisations of Mesopotamia.
Find out the wrong pair
Match the following.
| 1. | Delhi | Kunwar singh |
| 2. | Kanpur | Khan Bahudar Khan |
| 3. | Jhansi | Nana Saheb |
| 4. | Bareilly | Lakshmi Bai |
| 5. | Bihar | Bahadur Shah II |
Match the following.
| 1. | Delhi | Kunwar singh |
| 2. | Kanpur | Khan Bahadur Khan |
| 3. | Jhansi | Nana saheb |
| 4. | Bareilly | Lakshmi Bai |
| 5. | Bihar | Bahadur Shah II |
| A | B | ||
| 1) | Time utility | a) | Transport |
| 2) | Place utility | b) | Blood Bank |
| 3) | Service utility | c) | Mobile phone |
| 5) | Knowledge utility | d) | Doctor |
| A | B | |
| 1. | Time utility | Transport |
| 2. | Place utility | Blood Bank |
| 3. | Service utility | Mobile phone |
| 4. | Knowledge utility | Doctor |
Not for profit concerns, do not prepare balance sheet.
| Nitya, Shreya and Ishita are partners in a firm. They share profits in the ratio of 5: 3 : 2. Their fixed capitals are ₹ 1,80,000; ₹ 1,60,000 and ₹ 2,00,000 respectively. For the year ending 31st March 2022, Nitya withdrew ₹ 7,500 at the end of every quarter. |
The average number of months for which interest on drawings will be calculated will be ______.
Mumbai University prepares ______ account instead of a profit and loss account.
Mumbai University prepares ______ Account instead of a Profit and Loss account.
Mumbai Universtiy prepares ______ Account instead of a Profit and Loss account.
