Please ans this.
Dear Student,
Note : For Balance sheet you are requested to check the hereunder link which is almost similar to this question. Please revert back in case of any doubt. Sorry for inconvenience caused to you as due to time constrain I'm unable to solve it.
https://www.meritnation.com/ask-answer/question/from-the-following-receipt-and-payment-account-of-jan-kalyan/accounting-for-not-for-profit-organisation/6321271
Regards
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Books of Jan Kalyan Club Income and Expenditure Account as on 31 MAR 2020 |
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Dr. |
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Cr. |
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Expenditure |
Amount Rs |
Income |
Amount Rs |
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Loss on Sale of Furniture (Rs 6,000 – Rs 4,000) |
2,000 |
Subscription |
60,200 |
|
|
|
Salaries (22000+2000 for 1 month) |
|
24,000 |
Less: Outstanding for 2019 |
(2,000) |
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|
Traveling Expenses |
6,000 |
|
58,200 |
|
|
|
Stationery |
2,300 |
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Add: Outstanding for 2020 |
3200 |
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Add: Opening Stock |
1,200 |
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|
61,400 |
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|
3,500 |
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LESS: Advance for 2021 |
3,200 |
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Less: Closing Stock |
(800) |
2,700 |
|
58,200 |
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|
|
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|
58200 |
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Repairs |
700 |
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Rent |
16,000 |
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Donation |
3,000 |
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Less: Outstanding for 2018-19 |
(4,000) |
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Entrance Fees |
800 |
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|
12,000 |
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Interest on Investments |
5,000 |
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Add: Outstanding for 2019-20 |
4,000 |
16,000 |
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Depreciation on Books |
3,000 |
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Depreciation on Furniture |
2,000 |
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Surplus |
10,600 |
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|
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|
67,000 |
|
67,000 |
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Note : For Balance sheet you are requested to check the hereunder link which is almost similar to this question. Please revert back in case of any doubt. Sorry for inconvenience caused to you as due to time constrain I'm unable to solve it.
https://www.meritnation.com/ask-answer/question/from-the-following-receipt-and-payment-account-of-jan-kalyan/accounting-for-not-for-profit-organisation/6321271
Regards