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प्रश्न
Prepare Income and Expenditure Account from the following Receipts and Payments Account of Delhi Nursing Society for the year ended 31st March, 2019
| Dr. | Receipts and Payment Account for the year ended 31st March, 2019 |
Cr. | |||
| Receipts | Amount (₹) | Payments | Amount (₹) | ||
| To Balanceb/d (Cash at Bank) |
2,01,000 | By Salaries of Nurses | 65,600 | ||
| To Sunscriptions | 1,11,500 | By Board, Laundry and Domestic Help | 38,000 | ||
| To Fees from Non-members | 27,000 | By Rent, Rates and Taxes | 20,000 | ||
| To Government Grant | 1,00,000 | By Cost of Car | 2,00,000 | ||
| To Donations for Building Fund | 1,56,000 | By Expenses of Car | 84,000 | ||
| To Interest | 3,800 | By Drugs and Incidental Expenses | 67,000 | ||
| By Balance c/d (Cash at Bank) | 1,24,700 | ||||
| 5,99,300 | 5,99,300 | ||||
Donation of ₹ 10,000 received for Building Fund was wrongly included in the Subscriptions Account. A bill of medicines purchased during the year amounted to ₹12,800 was outstanding. Government Grant is not for a specific purpose.
उत्तर
| Book of Delhi Nursing Society | |||||
| Dr. | Income and Expenditure Account for the year ended 31st March, 2019 |
Cr. | |||
| Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) |
| To Salaries of Nurses | 65,600 | By Subscriptions | 1,11,500 | 1,01,500 | |
| To Board, Laundry and Domestic Help | 38,000 | Less: Donation for Building | (10,000) | ||
| To Rent, Rates and Taxes | 20,000 | By Fees from Non-members | 27,000 | ||
| To Expenses of Car | 84,000 | By Municipal Grant | 1,00,000 | ||
| To Drugs and Incidental Expenses | 67,000 | 79,800 | By Interest | 3,800 | |
| Add: Outstanding Expenses | 12,800 | By Deficit (Balancing Figure) | 55,100 | ||
| 2,87,400 | 2,87,400 | ||||
APPEARS IN
संबंधित प्रश्न
Following is the information in respect of certain items of a Sports Club. You are required to show them in the Income and Expenditure Account and the Balance Sheet.
| Details | Amount (Rs) |
| Sports Fund as on April 1, 2016 | 80000 |
| Sports Fund Investments | 80000 |
| Interest on Sports Fund Investments | 8000 |
| Donations for Sports Fund | 30000 |
| Sports Prizes awarded | 16000 |
| Expenses on Sports Events | 7000 |
| General Fund | 200000 |
| General Fund Investments | 200000 |
| Interest on General Fund Investments | 20000 |
As at March 31, 2017 the following balances have been extracted from the books of the Indian Chartered Accountants Recreation Club and you are asked to prepare (1) Trading Account for ascertaining gross profit derived from running restaurant and dining room and (2) Income and Expenditure Account for the year ended March 31, 2017 (3) and a Balance Sheet as at that date.
| Debit Balances | Rs |
Credit Balances |
Rs |
| Stock-in-hand | 1170 | Receipts Dining Room | 87660 |
| Purchases | 24660 | Subscriptions | 9450 |
| Dining Room | 32370 | Billiard's Receipts | 7300 |
| Rent | 10470 | Sunday Receipts | 410 |
| Wages | 18690 | Interest on Fixed Deposit | 270 |
| Repairs and Renewals | 5400 | Sundry Creditors | 5310 |
| Fuel and Light | 5280 | Grant from Institute (permanent) | 42000 |
| Misc. Expenses | 4050 | Income and Exp. A/c (1.4.16) | 1380 |
| Cash in hand | 560 | Suspense A/c (See note) | 60 |
| Cash at bank | 2760 | ||
| Fixed Deposit | 8500 | ||
| Sundry Debtors | 2250 | ||
| China glass, cutlery and linen | 600 | ||
| Billiard Table | 2070 | ||
| Fixtures and Fittings | 870 | ||
| Furniture | 4140 | ||
| Club Premises | 30000 | ||
| 1,53,840 | 1,53,840 |
On March 31, 2016 stock of restaurant consisted of Rs 900 and Rs 60 respectively. Provide depreciations Rs 60 on fixtures and fittings, Rs 390 on billiard table and Rs 560 on furniture.
From the following information of a club show the amounts of match expenses and match fund in the appropriate Financial Statements of the club for the year ended on 31st March, 2019:
| Particulars | ₹ |
| Match expenses paid during the year ended 31st March, 2019 | 1,02,000 |
| Match Fund as on 31st March, 2019 | 24,000 |
| Donation for Match Fund (Received during the year ended 31st March, 2019) | 40,000 |
| Proceeds from the sale of match tickets (Received during the year ended 31st March, 2019) | 15,000 |
In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March, 2018. On 31st March, 2019, subscriptions due but not received were ₹ 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2019 as subscription?
How are the following items dealt with while preparing Income and Expenditure Account of a club for the year ended 31st March, 2019?
| 1st April, 2018 (₹) |
31st March, 2019 (₹) | |
| Outstanding Locker Rent | 4,600 | 6,300 |
| Advance Locker Rent | 3,000 | 4,000 |
Locker Rent received during the year ended 31st March, 2019 – ₹ 52,000.
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.
Answer the following question:
State the basis of accounting of preparing the 'Income and Expenditure Account' of a 'Not-For-Profit Organisation.
Name the funds which are invested in securities and the income earned on such investments is added to the respective fund and not credited to the Income and Expenditure Account.
How would you treat the following item in the case of a 'not-for-profit 'organization?
"Receipts from Charity Show Rs.7,000. Expenses on Charity Show Rs.3,000".
Credit side balance in the Income and Expenditure Account reveals:
The following is the extract of the Receipts and Payments Account of the Rajasthan Society for the year ending 31st December 2021.
| Receipts | Amount (₹) |
Payments | Amount (₹) |
| By medicine | 18,000 |
A bill of medicine purchased during the year amounting to ₹ 2,000 was outstanding. The amount debited to the Income and Expenditure Account will be:
Subscriptions received in cash during the year amount to ₹ 50,000, the amount received in advance for the next year is ₹ 5,000, and the amount outstanding for the current year was ₹ 5,000. The amount to be debited to the Income and Expenditure Account is:
From the following which item is not entered in the Income and Expenditure Account?
Locker's rent amount received by a school is treated as:
The opening balance of Prize Fund was ₹ 32,800. During the year, donations received towards this fund amounted to ₹ 15,400 amount spent on prizes was ₹ 12,300 and interest received on Prize Fund Investment was ₹ 4,000. The closing balance of Prize Fund will be ______.
Sports expenses of Friends Club are ₹ 27,000 (including ₹ 7,000 prepaid expenses). The amount to be credited to the Receipts and Payments account will be:
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.
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.
