Question

[12]
Q.6 Given below is the Balance Sheet as on 01.04.2010 and Receipts and payments Account for the year ending
31.03.2011 of Samat Sports Club Solapur,Prepare Income and Expenditure Account for year ending on 31.03.2011
and the Balance Sheet as on that date.
Balance Sheet as on 01.04.2010
Liabilities
Amt Rs Assets
Amt Rs.
Capital Fund
4,62,500 Play ground
4,00,000
Building Fund
2,50,000 Furniture
18,000
Subscription Received
Stock of sports material
22,000
in advance for the year
Building Fund Investment 2.50,000
2010-2011
4.500 Cash in hand
1.600
Cash at bank
8,400
Outstanding subscriptions 17.000
717,000
7,17,000
Dr
Receipts and Payments Account for the year ending 31.03.2011
Cr
Receipts
Amt Rs Amt Rs Payments
Amt Rs Amt Rs.
To Balance b/d
By Sports Material
Cash in hand
1.600
Purchased
26,000
Cash at Bank
8.400
By Salaries
43,500
10,000 By Office rent
63.000
Te subscription
1,00,900 By Telephone charges
3,900
To Admission Fees
6,500 By Printing and Stationery
2.300
Te Donations
28,000 By Balance c/d
To Sundry Receipts
1.350 Cash in Hand
6,000
To Interest on Investment of
Cash at Bank
11.050 17,050
Building Fund
9,000
1.55.750
1.55.750
Adustments
1 Stock of sports material in hand on 31.03.2011 was Rs. 24.000
2 Admission fees and Donations are to be capitalized
3 Subscription received during the year included Rs 17,000 for previous year and Rs 5,000 for the next year
Current year's subscription Rs 14,500 is outstanding

Answer 1

Answer:

1 is 999

2 is 200000

3is 12o0

4is 1398

Answer 2

Answer:

Deficit :37,450

balance sheet total :7,23,550