Plz solve this question from NPO
Dear Student,
Income & Expenditure Account for the year ended 31 Mar 2010:
**Note: The Closing Cash Balance total is incorrect ; correct amount taken as Rs 19,000
Regards,
Income & Expenditure Account for the year ended 31 Mar 2010:
| Income & Expenditure A/c | |||||
| Date | Particulars | Amount (in Rs) | Date | Particulars | Amount (in Rs) |
| Mar 31, 2010 | Opening Stock of Medicine | 10,000 | Mar 31, 2010 | Subscription A/c | 51,000 |
| Purchase | 30,500 | i.e Subscription for the year | |||
| Honorarium to Doctors | 10,000 | Subscription received 50,000 | |||
| Salaries | 27,500 | Add: Due for the year 1,000 | |||
| Sundry Expenses | 500 | Less: Due of previous year -500 | |||
| Charity Show Expenses | 1,000 | Add: rcvd in advance last year 1,000 | |||
| Depreciation | 8,000 | Less: rcvd in advance this year -500 | |||
| Excess of Income Over Expenditure | 10,000 | Donation | 14,500 | ||
| Interest on Investment (7% p.a.) | 7,000 | ||||
| Charity Show proceeds | 10,000 | ||||
| Closing Stock of Medicine | 15,000 | ||||
| 97,500 | 97,500 | ||||
| Balance Sheet as on 31 Mar 2010 | |||
| Liabilities | Amount (in Rs) | Assets | Amount (in Rs) |
| Capital Fund (1,92,500+10,000) | 202,500 | Cash** | 19,000 |
| Subscription received in Advance | 500 | Closing Stock of Machine | 15,000 |
| Subscription Due | 1,000 | ||
| Equipments (36,000-6,000) | 30,000 | ||
| Buildings | 38,000 | ||
| Investments (7,000/7%) | 100,000 | ||
| 203,000 | 203,000 | ||
| Balance Sheet as on 31 Mar 2009 | |||
| Liabilities | Assets | ||
| Capital Fund (b/f) | 192,500 | Cash | 7,000 |
| Subscription received in Advance | 1,000 | Closing Stock of Machine | 10,000 |
| Subscription Due | 500 | ||
| Equipments (36,000-6,000) | 36,000 | ||
| Buildings | 40,000 | ||
| Investments (7,000/7%) | 100,000 | ||
| 193,500 | 193,500 | ||
**Note: The Closing Cash Balance total is incorrect ; correct amount taken as Rs 19,000
Regards,