020
geti acc
(Q27) from the following receipt and payment account of Apollo hospital for the year ended
311 march 2020:
Receipts
Amount
Payments
Amount
To balancebid
8500 By payment of medicine
33000
To subscription
48000 By fees to doctors
24000
To donation
15000 By salaries
27000
To int. on investment at 9% p.a.
9000 By equipment's purchased
15000
To proceed from charity show
12000 by charity show expenses
4000
To grant-in-aid
20000 By sundry expenses
1200
By balance cd
8300
1 12 500
1 12 500
Other information:
31.03.2019
(a)subscription due
500
(b)subscription received in advance
1000
(c)stock of medicine
10000
(d)amount due to medicines supplier
8000
(e)value of equipment's
25000
(value of building
70000
You are required to prepare Income and Expenditure account only.
31.03.2020
1000
500
15000
12000
33000
65000
(6-Marks)
Answers
Answer:
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Answer:
Explanation:
The following is the Receipts and Payment account of Apollo Hospital for the year ended 31st March, 2012.
Expenditure Amount Income Amount
To payment for medicine 33 000 By Subscription 48 000
Add:Opening Stock 10 000 Add: Due at the end 1 000
Closing creditors 12 000 Adv, in the beginning 1 000
Less: Closing Stock 15 000
Less:Due in the beginning 500
Opening Creditors 8 000 Advance at the end 500
To fees to Doctors 24 000 By Donation 15 000
To Salaries 27 000 By Interest on Investment 9 000
To Charity show Expenses 4 000 By Proceed from Charity show 12 000
To Sundry Expenses 1 200 By Grant in Aid 20 000
To Depreciation on:
Equipmet 7 000
Building 5 000
To Surplus 4 800
1 05 000 1 05 000
Balance Sheet
As at 31st March, 2011
Liabilities Amount Assets Amount
Subscription recd. in Advance
500 Cash in Hand 8 300
Amount due to medicine suppliers
12 000 Subscription due 1 000
Capital found 2 02 000 Stock of medicine 15 000
Add: Surplus + 4 800 Equipment 33 000
Building 65 000
Investment 1 00 000
2 22 300 2 22 300