Balance b/d
subscription:
2011-12
2012-13
2013-14
Realisation from charity show
Donation for Building
Sale of Newspaper
35,000
500
700
600
2,500
4,000
1,300
Expenses on Charity shows
Investments
Insurance
Sundry Expenses
Office expenses
Fax Machines
(Purchased on 1.10.2012)
Salaries
Balance c/d
1,100
10,000
2,000
400
700
2,600
12,500
15,300
44,600
44,600
Additional info- 1. On 31mar 2013 subscription of 2500(including 200 for 2011-12) were in arrears and insurance charge of 300 were prepaid.
2. On 1 April the club had the following- a. Fax machine - 4000 b. Investments- 2500 c. Salary o/s- 1500 and insurance prepaid 500
3. Dep to be charged on fax machine @10% p.a. 3
Prepare income and expenditure account with the help of the following information:
Subscription outstanding on 31st Dec 2005 is Rs. 1,200 and Rs. 2,300 on
31.12.2006, Opening stock of postage stamps is Rs 200. rent Rs. 1,500 related to 2005 and Rs. 1,500 is still unpaid. On Jan 1, 2006, the club owned furniture
Rs 15000. Furniture valued at Rs. 22,500 on 31.12. 06. The club took a loan of Rs. 20,000@10% p.a. in 2005.
Q. From the following Receipts and Payments Account of a club and from the information supplied, prepare Income and Expenditure Account for the year ended 31st March 2013 and the opening Balance sheet
Receipt and Payment A/c
subscription:
2011-12
2012-13
2013-14
Realisation from charity show
Donation for Building
Sale of Newspaper
35,000
500
700
600
2,500
4,000
1,300
Investments
Insurance
Sundry Expenses
Office expenses
Fax Machines
(Purchased on 1.10.2012)
Salaries
Balance c/d
10,000
2,000
400
700
2,600
12,500
15,300
Additional info- 1. On 31mar 2013 subscription of 2500(including 200 for 2011-12) were in arrears and insurance charge of 300 were prepaid.
2. On 1 April the club had the following- a. Fax machine - 4000 b. Investments- 2500 c. Salary o/s- 1500 and insurance prepaid 500
3. Dep to be charged on fax machine @10% p.a. 3
Additional info:
1) on 31 march 2013,subscriptions of rs.2500( including 2000 for 2011-12) were in arrears and insurance charges of rs 300 were prepaid.
2) on 1 April 2012 club had the following
a. Fax machine of 4000
b. Investments 2500
c. Salary o/s 1500 and insurance prepaid 500.
3) charge dep on fax machine @10%
Receipt and Payment Account
For the year ending December 31,2006
Entrance Fees
Donation for building
Locker Rent
Life Membership Fee
Profit from Entertainment
Subscription
3,200
23,000
1,200
7,000
3,000
40,000
Wages
Billiard Table
Furniture
Interest
Postage
Salary
Cash in hand
7,000
14,000
10,000
2,000
1,000
24,000
4,000
Prepare income and expenditure account with the help of the following information:
Subscription outstanding on 31st Dec 2005 is Rs. 1,200 and Rs. 2,300 on
31.12.2006, Opening stock of postage stamps is Rs 200. rent Rs. 1,500 related to 2005 and Rs. 1,500 is still unpaid. On Jan 1, 2006, the club owned furniture
Rs 15000. Furniture valued at Rs. 22,500 on 31.12. 06. The club took a loan of Rs. 20,000@10% p.a. in 2005.
Q8. Following is the Receipt and Payment Account of Literacy Club for the year ended 31-3. 2006.
Subscription :
2004-05 1,200
2005-06 26,500
2006-07 500
Sale of old newspaper
Government Grants
Sale of old furniture
(Book value Rs. 7,000)
Interest on fixed deposits
28,200
1,250
10,000
5,700
450
Newspaper
Electricity Bill
Fixed Deposit
(on 1.7.05 @ 9% p.a)
Books
Rent
Furniture
Balance c/d
2,000
1,000
20,000
10,000
6,800
10,500
11,200
Additional information :
1. Subscription outstanding as on 31-3-2005 were Rs. 2,000 and on 31-3-2006 Rs. 2,500
2. On 31-3-2006 salary outstanding was Rs. 600 and rent outstanding was Rs. 1,200
3. The club owned furniture Rs. 15,000 and books Rs. 7,000 on 1-4-2005.
prepare Income and Expenditure Account of the club for the year ended 31-3-2006 and ascertain 'Capital Fund' on 31-3-2005. Also prepare a Balance sheet as at 31st March, 2006.
Q8. Following is the Receipt and Payment Account of Literacy Club for the year ended 31-3. 2006.
Subscription :
2004-05 1,200
2005-06 26,500
2006-07 500
Sale of old newspaper
Government Grants
Sale of old furniture
(Book value Rs. 7,000)
Interest on fixed deposits
28,200
1,250
10,000
5,700
450
Newspaper
Electricity Bill
Fixed Deposit
(on 1.7.05 @ 9% p.a)
Books
Rent
Furniture
Balance c/d
2,000
1,000
20,000
10,000
6,800
10,500
11,200
Additional information :
1. Subscription outstanding as on 31-3-2005 were Rs. 2,000 and on 31-3-2006 Rs. 2,500
2. On 31-3-2006 salary outstanding was Rs. 600 and rent outstanding was Rs. 1,200
3. The club owned furniture Rs. 15,000 and books Rs. 7,000 on 1-4-2005.
prepare Income and Expenditure Account of the club for the year ended 31-3-2006 and ascertain 'Capital Fund' on 31-3-2005. Also prepare a Balance sheet as at 31st March, 2006.
Cash 28000 stock 150000 Motor vehicles 45000 Investments 25000 B/P 6700 Debtors 38000 B/R 11000 Creditors 32,800
Find out the capital by passing an opening journal entry.