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studentsouces... & 2 others asked a question
Subject: Accountancy, asked on on 28/10/13
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Subject: Accountancy, asked on on 28/12/13
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Subject: Accountancy, asked on on 20/1/16
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Subject: Accountancy, asked on on 15/12/13
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Subject: Accountancy, asked on on 4/7/10
Jitesh Khandelwal asked a question
Subject: Accountancy, asked on on 4/2/13

following is the receipt and payment account of natraj literary society hyderabad for the year ended 31st december 1998 :

receiptsRs payments Rs

to balance b/d 1-1-19987200By salaries 16,500

To Donations8000 By sundry expenses 1,000

To rent of the hall 15,400 By charities 1,500

To proceeds of lectures 4,700 By cost of lectures 3,000

To Interest on bonds 900 By newspapers 3,800

To journey receipts 5,600By journey Expenses 4,400

To sale of old newspaper 300 By Books 14,000

To sale of old furniture (book value rs 2,000) 400 By mowing machine (purchased on 1-4-1998) 10,000

To subscriptions : By furniture 7,000

1997 1,500 By postsge400

1998 38,000 By conveyance 800

1999 80040,300 By balance c/d 20,400

Additional Information : -

(1) there are 40 members each paying an annual subscription of 100 .

(2) on 31 st december 1997 the trustowned buildingsrs 75,500; furniture rs 10,000 ; books rs 6,000 and 12% bonds rs 10,000 .

(3) salaries of rs 1,500 for december 1998 were not paid until 7th january , 1999 .

(4) journey income receivable Rs 400 .

(5) charge depreciation @ 10% p.a. on buildings and mowing machine and 20% p.a. on the closing balance of furniture and books .

(6) it was decided to treat one - half of the amountreceived on account of donations as income.

prepare income and expenditure avvount for the year ending 31st dec., 1998and a balance sheet on that date .

Hints:- (1) Salary of rs 1,500 will be treated as outstanding .

(2) half the donations will be shown on the liabilities side .

(3) subscription outstanding rs 2,000 .

Garima Nenawati asked a question
Subject: Accountancy, asked on on 24/2/16
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