Question

41. From the given Receipts and Payments Account and additional information of Friends Club for the year
ended 31st March, 2019, prepare Income and Expenditure Account for the year ending 31st March, 2019:
will be
RECEIPTS AND PAYMENTS ACCOUNT OF FRIENDS CLUB
for the year ended 31st March, 2019
Cr.
,000 -
200
for har
old furt
Recepts
Payments
50,400
44,000
2,000
TO Balance bld
To Donations
To Sale of Old Sports Material
To Subscriptions:
2017-18
2018-19
2019-20
To Entrance Fees
20.
1,20,000
1,00,000
4,000
44.000
15,000
By Fumiture (Purchased on 1st December, 2018)
By Salaries
By Secretary's Honorarium
By Books
By Balance cld
on) - 2
1,600
60,000
5,000
ory
66,600
1,20,000
2,83,000
2,83,000
harg
ador
Additional Information:
20
(1) On 1st April, 2018, the club had the following balances of assets and liabilities:
Furniture ? 1,00,000; Subscriptions in arrears * 2,000 and Outstanding Salary 6,000.
(IT) The club had 75 members each paying an annual subscription of 1,000.
(iii) Charge depreciation on furniture @ 10% p.a.
(CBSE 2020)
[Ans.: Surplus, i.e.
, Excess of Income over Expenditure-1,29,000]
13.0​

Answer 1

check it once i think correct