Question

36. From the following particulars prepare an Income and Expenditure A/c for the year
ending 31st Dec., 2018 and a Balance Sheet as on that date.
Abhinava Kala Samaj, Indore
Dr.
Receipts and Payments Account
Cr.
For the year ending 31st December, 2018
Opening Balance
Establishment Expenses
6,000
Cash in hand
250 Include 400 for 2019
Cash at Bank
20,550 Telephone Charges
540
Subscriptions :
Electric Charges
250
Previous year
500 Stamps and Stationery
600
Current year
20,000 Travelling Expenses
150
Next Year
750 Meeting Expenses
500
Hall Rent
1,250 Rent
5,400
Interest on Securities
1,000 Library
3,000
Donations
10,000 Donations for National Def. Fund 5,000
Telephone Receipts
50 Cash in hand
310
Cash at Bank
32,600
54,350
54,350
The following additional information is available-
1. The Samaj holds 3% National Defence Certificates (Investment) of 40,000.
2. The Library Account stood at 20,000 on 1st January 2018.
3. Donations are to be funded for meeting the expenses of Cultural Programmes.
4. At the end of the year the outstanding liabilities are- (i) Rent 300 (ii) Printer's Bill * 150
[Ans. Excess of Income 4,010, Balance sheet 96,510)

Answer 1

see below the attachment for full explanation -