Question

12th Class - Non profit organisation
MM:20
Time: 30 Minutes
1. The following is the receipts and payments account of Queen's club for the year
ended 31" March, 2016.
Receipts and payments account
Dr
For the year ended 31 March 2016
Amt ()
Receipts
To Balance b/d
To Subscriptions
To Tournament Fund
To Interest
(investment)
To Donations
To Sale of Concert
Tickets
Amt() Payments
1,82,000 By Salaries
1,80,000 By Stationery
1,64,000 By Rent
65,000 By Telephone Expenses
1,66,000
32,000
48,000
8,000
1,12,000 By Sports Material and Expenses 78,000
2,47,000 By 6% Investments
5,00,000
By Miscellaneous Expenses 24,000
By Concert Expenses
58,000
By Balance C/d
36,000
9,50,000
9,50,000
Additional information
(1) Subscription include 12,000 for 2014-15 and 18,000 for 2016-17
(11) Stock of stationery on 31" March, 2015 and 2016 was 7,200 and 5,400 respectively.
(1) Stock of sports material at the beginning and end of the year was 12,000 and 21,000
respectively
(iv) Rent Includes 4,000 pald for March, 2015. Rent for March, 2016 is outstanding.
(V) Telephone expense Include < 3,000 as quarterly rent up to 31"May, 2016
(VI) The value of Building as on 31" March 2015, was 8,00,000 and you are required to write-off
depreciation at 10%
(vil) The value of Investments on 31" March, 2015 was 10,00,000 and the club made similar additional
Investment during the year on 19 October, 2015.
You are required to prepare the income and expenditure account of the club for the year ended 31"
March, 2016
(12M)​

Answer 1

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Answer 2

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