Question

1.90
3e de
₹
Lofit
FINANCIAL STATEME
Receipts and Payments Account of Dee Club
for the year ending 31st March, 2019
Payments
2,000 By Salaries
By Printing and Stationery
By Furniture (1.10.2018)
By 9% Investments
52,700 By Balance eld
Receipt
To Balance b/d
To Subscription
2017-18
2018-19
2019-20
To Sale of old furniture
(Book value 800)
To Donation for prizes
To Interest on Investment
42,500
21,500
15,000
3,000
16,850
30se
1.200
49,200
2,300
NA
3
500
43,000
650
98,850
98,850
2
(1) The club has 400 members, each paying an annual subscription of 3150,
(11) Salaries paid included 33,150 for the year 2017-18 and outstanding
salaries for the year 2018-19 were 34,250.
(iii) 9% investments were made on 30th November, 2018. The club had a
similar investment of 8,000 at the beginning of the year.
(iv) Depreciate furniture @ 10% p.a. No depreciation is to be charged on
furniture sold.
(C.B.S.E. 2020, Mumbai, Chennai)
[Ans. Deficit 5,340.]
0.34. From the given Receipts and Payments Account and additional information
of Friends Club for the year ended 31st March, 2019, prepare Income and Expenditure
Account for the year ending 31st March, 2019.​

Answer 1

Answer:

1.90

3e de

₹

Lofit

FINANCIAL STATEME

Receipts and Payments Account of Dee Club

for the year ending 31st March, 2019

Payments

2,000 By Salaries

By Printing and Stationery

By Furniture (1.10.2018)

By 9% Investments

52,700 By Balance eld

Receipt

To Balance b/d

To Subscription

2017-18

2018-19

2019-20

To Sale of old furniture

(Book value 800)

To Donation for prizes

To Interest on Investment

42,500

21,500

15,000

3,000

16,850

30se

1.200

49,200

2,300

NA

3

500

43,000

650

98,850

98,850

2

(1) The club has 400 members, each paying an annual subscription of 3150,

(11) Salaries paid included 33,150 for the year 2017-18 and outstanding

salaries for the year 2018-19 were 34,250.

(iii) 9% investments were made on 30th November, 2018. The club had a

similar investment of 8,000 at the beginning of the year.

(iv) Depreciate furniture @ 10% p.a. No depreciation is to be charged on

furniture sold.

(C.B.S.E. 2020, Mumbai, Chennai)

[Ans. Deficit 5,340.]

0.34. From the given Receipts and Payments Account and additional information

of Friends Club for the year ended 31st March, 2019, prepare Income and Expenditure

Account for the year ending 31st March, 2019.