Question

10
a gordance hand for excellence Core
2. From the following Receipts and Payments A/c of New Bharat Sports Club for the
year ending 31- Mach 2006 and the adjustment given below, prepare Income and
Expenditure account and the Balance Sheet for the year ending 31 March 2006.
Receipts and payments Account for the year ended 31 March 2006
Receipts
Amount
Payments
Amigurt
To balance b/a
40,000 By taxes
2.000
To entrance fees
15,000 By investments
15,000
To subscriptions
12,000 By receipts
4,000
To locker rent >
5.000 By renc
6,000
To donations
3.boo By stationery
1.000
To income from annual
By wages
12.000
programme
12.006 By annual programme
To sales of fumitur cost Rs
expenses
7.000
10,000)
6,000
By match expenses
8.000
By sports materials
15,000
By billiards table
3,000
By electrical fitting
4,000
By advertisement
expenses
18,000
By bank balance
17,000
By balance c/d (cash)
8,000
1,20,000
1,20,000
Adjustments -
NITIN S. AGRAWAL
1. 80% of the entrance fees and 60% of donations are to be capitalized
2. Stock of stationery as on 1-4-2005 was Rs 400 and at the end of year its stock
was Rs. 800
3. The assets as on 1-4-2005 were
Furniture Rs. 20,000, sports materal Rs. 10,000, while capitals fund as on 1-4-
2005 was Rs. 70.900
Locker rent is still outstanding for current accounting year Rs. 600 and it
includes Rs. 300received for the year 2004-05
5. Rent Rs. 400 is still outstanding for current accounting year and includes Rs.
100 paid with respect to the year 2004-05
Subscription outstanding for current accounting year Rs. 1,000 and
Subscription of Rs. 500 received in advance of the next year. Subscription of Rs.
300 received with respect to the year 2004-05
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