Arpitha Nursing Home, Mangalore was newly started on 1-04-2012. The following is the Receipts and Payments Account of Arpitha Nursing Home for the year ending 31.3.2013. 
                        Receipts and Payments A/c for the year ending 31.03.2013
 
Receipts Rs. Payments Rs.
To Donations 
To Fees from patients 
To Entrance fees 
To Subscriptions 
To Endowment fund 
To Interest from bank 
To Miscellaneous receipts
  4,00,000
    50,000 
     40,000
  2,00,000
20,00,000
       4,000
       6,000
 
By Salary 
By Instruments and equipments 
By Diet expenses 
By Govt. Securities 
By Office expenses
By furniture 
By purchase Of medicines
By closing balance: Cash
                                 Bank
1,00,000
2,40,000 
36,000 
20,00,000 
70,000 
1,20,000
24,000
10,000
1,00,000
  27,00,000   27,00,000
Adjustments: 
a. Offices expenses O/S Rs. 10,000. 
b. Subscriptions received in advance Rs. 20,000. 
c. Donations are to be capitalized. 
d. O/S subscriptions Rs. 40,000. 
e. Stock of medicines as on 31-03-2013 Rs. 4,000. 
f. Depreciate instruments and equipments by 20% and furniture by 10%. 
Prepare: 
1. Income and expenditure account and 2. Balance sheet as on 31.03.2013.

Dear Student,
 
Income and Expenditure Account
for the year ending March 31, 2013
Dr.   Cr.
Expenditure Amount
(Rs)
Income Amount (Rs)
Salaries 1,00,000 Subscription 2,00,000  
Medicines Consumed 20,000 Add: Previous Advance 20,000  
Office Expenses 70,000   Add: Current O/s 40,000 2,60,000
Add: Outstanding 10,000 80,000 Fees from Patients 50,000
Depreciation:   Interest from Bank 4,000
Instruments & Equipments 48,000   Miscellaneous Receipts 6,000
Furniture 12,000 60,000    
Diet Expenses 36,000    
Surplus 24,000    
  3,20,000   3,20,000
       

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