05. Followings are the Balance Sheet and Receipt and Payment Account of Malnad
Sports Club, Chikkamagaluru.
Balance Sheet as on 31-03-2017
Liabilities
7
Assets
Outstanding salary
3,200 Cash at Bank
52,400
Outstanding rent
800 Outstanding subs.
4,800
Subs, received in
Investments
5,200
advance
4,000 Sports Materials
43,600
Capital Fund
1,30,800 Furniture
32,800
1,38,800
1,38,800
Receipt and Payment A/C for the year ending 31-03-2018
Dr.
Cr.
Receipts
7
Payments
7
To Balance b/d
52,400 By Rent 2016-17
800
To subscriptions
2017-18
8,800
2016-17
4,800 By Salaries: 2016-17
3,200
2017-18
90,200
2017-18
46,400
2018-19
4,200
2018-19
2,400
To Donations
32,400 By Printing
15,200
To Entrance fees
65,200 By General Expenses
10.800
To Interest
2,800 By Furniture
48,000
To Sale of old sports
(31-03-2018)
materials
2,000 By Sports Materials
57,600
(01-10-2017)
By Balance c/d
60.800
2,54,000
2,54,000
0
Adjustments:
a. Subscriptions outstanding ? 5,600.
b. Printing unpaid ? 1,000.
c. Interest accrued 800,
d. Depreciate furniture by 10% and sporta materials by 10%.
c. Capitalize 50% of donations,
Prepare: (1) Income and Expenditure account and
(ii) Balance Sheet as on 31-03-2018
Answer: I & E A/C Surplus 92,080, Total of B/8 T2,44,280
Answers
Answer:
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I need some point to ask questions because tomorrow my exam .
Answer:
Explanation:
Balance sheet as on 31-03-2108
Liabilities Rs. Assets Rs.
Capital Fund 130800 Investment 5200
Donation 16200 Sports material 43600
Surplus 94080 241080 Current year 57600
Outstanding exp Dep (-) 7240
Painting 1000 Furniture 32300
Subscription 4200 Current year 48000
dep (-) 3280
Cash 60800
outstanding income
Subscription st 5600
Interest 800
Salary 2400
246280 246280