13. How are the following dealt with while preparing the final accounts of a club?
TRIAL BALANCE as at 31st March, 2020
Particulars
Dr. (*)
Cr. (R)
80,000
72,000
3,500
Match Fund
Match Fund Investments
Match Fund Bank Balance
Interest on Match Fund Investments
Match Expenses
2,880
5,500
Answers
Explanation:
Not For Profit Organizations
Ts Grewal Vol. II 2018 Solutions for Class 12 Commerce Accountancy Chapter 1 Company Accounts Financial Statements Of Not For Profit Organizations are provided here with simple step-by-step explanations. These solutions for Company Accounts Financial Statements Of Not For Profit Organizations are extremely popular among Class 12 Commerce students for Accountancy Company Accounts Financial Statements Of Not For Profit Organizations Solutions come handy for quickly completing your homework and preparing for exams. All questions and answers from the Ts Grewal Vol. II 2018 Book of Class 12 Commerce Accountancy Chapter 1 are provided here for you for free. You will also love the ad-free experience on Meritnation’s Ts Grewal Vol. II 2018 Solutions. All Ts Grewal Vol. II 2018 Solutions for class Class 12 Commerce Accountancy are prepared by experts and are 100% accurate.
Page No 7.51:
Question 1:
From the following particulars of Evergreen club, prepare Receipts and payments Account for the year ended 31st March,2018:
₹
₹
Cash in Hand on 1st April,2017
Cash at Bank on 1st April,2017
Subscriptions Received
Donations Received
Investments purchased
Rent paid
General Expenses
Postage and stationery
50,000
3,40,000
15,70,000
2,80,000
5,00,000
50,000
2,30,000
25,000 Newspaper and Magazines
Sale of Old Newspaper
Books purchased
Sports Materials Purchased
Interest on Investments Received
Honorarium to coaches
Cash in Hand on 31st March,2018
Cash at Bank on 31 st March ,2018 87,000
12,000
3,40,000
4,70,000
50,000
1,50,000
30,000
?
ANSWER:
Books of Evergreen Club
Receipts and Payments Account
for the year ended March 31, 2018
Dr.
Cr.
Receipts
Amount
(Rs)
Payments
Amount
(Rs)
Balance b/d
Investments Purchased
5,00,000
Cash in Hand
50,000
Rent Paid
50,000
Cash at Bank
3,40,000
3,90,000
General Expenses
2,30,000
Subscription Received
15,70,000
Postage and Stationery
25,000
Donation Received
2,80,000
Newspapers and Magazines
87,000
Sale of Old Newspapers
12,000
Books Purchased
3,40,000
Interest on Investments Received
50,000
Sports Material Purchased
4,70,000
Honorarium to Coacher
1,50,000
Balance c/d
Cash in Hand
30000
Cash at Bank (Balancing Figure)
4,20000
4,50,000
23,02,000