1 chapter of account. Non profit organization s
1 chapter of account. Non profit organization s STATEMENTS OF NOT-FOR-PROFIT ORGANISATIONS
t .89
(is,) The By-laws or the club provide that of the Entrance rees and of the
surplus Of any year are to be transferred to Reserve Fund.
prepare an Income and Expenditure Account of the ciuh for the year ended 31st
March. 2012 and a Balance Sheet as at that date.
(Haryana Board 2013. Sel A )
Opening capital rund 0.62200; surplus •68,800: Balance Sheet Total
e2,40.ooO. I
Hint printing or souvenier will bc shosso on the Dr. side of Income and Expenditure
Q. 25. The Collowing is the Receipts and Payments Account of Super Time Club for
the year ended 31st March, 2016
RECEIPTS AND PAYMENTS ACCOUNT
1-3.
3
To Cash in hand
To Suhscnprion.s : '
20'5-16
2016-1 7
To Entr.ulce Fees
To Proceeds from Drama
To Interest from Securities
I ,200
64.800
600
To Sale proceeds from old furnilurc
(Cost ?320)
18,160 By Bank
By Investments
By Furniture
; By Salaries
66,600 By Plinting and Stalionely
50,000 By Postage and Teiegöams
3,20.OOO By of Drama
2,000 By Sundry Expenses:
By Ealancee:•
400 Cash i m Lland
rCa.shut Bank
4,57.76ö
14.
. 20.4004
24,160
120,000
. +7,000
04.51,160
You are required to compile thc Income and Expenditure Account for the year ended 31st
2016 and the Balance Sheet as at thal date alter taking into account the Sollowing
intömution
(i) On 1st April, 2015, the club premises stood al Investments at 04,000,
furniture at 12,000 and Slock of st?tionery g 360.
(ii) The club had 720 members each paying' an annual subscfiption of k 100.
Subscription amounting to t200 were still in arregrs for the year 2014-1 S.
(iii) Salaries for March, 2016 amounting to are outstanding.
(iv) Entrance fee and surplus from Drama are 10 be kept in reserve for a swimming
pool.
(v) Write off 50% of printing and stationery.
[Ans. Surplus Opening Capital Fund Ä3alance Sheet Total
Hint : Swimming Pool Fund Closing stock of Printing and Stationery t 12,260.
Q. 26. Following is the Receipts and Payments Account of Citizen Club for the year
nded 31st March, 2008 :
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