Question

5: Simple Example - Prepare Income and Expenditure Account only
From the following Receipts & Payments Account and Adjustments given below you are
required to prepare Income and Expenditure Account for year ended 31" March 2020 of Venna
Cultural Association, Satara.
Receipts & Payments Accounts
for the year ended 31" March 2020
Dr.
Cr.
Receipts
Amount Amount
Payments
Amount Amount
-3
₹
evious yea
amount AB
To Balance b/d
By Rent
Cash in Hand
700
54,300
Cash at Bank
To Subscriptions
2018 - 19
2019-20
2020-21
To Donations
mount (General)
₹
To Entrance fees
1
To Interest on Fixed
30,000
Deposit
To Picnic Receipts 3
10,000
2018 - 19
19,200 29,200 2019-20
By Fixed Deposit
15,000
By Sundry Exp.
1,00,000
By Insurance
8,000 1,23,000 By Printing & Stationery
25,000 By Picnic Expenses
By Salaries
15,000 By Traveling Expenses
4,800 By Adv. (2018 - 19)
55,000
47.000
8,000
12,000
6,000
18,000
20,000
13,000
7,000
By Balance c/d
1,000
20,000 Cash in Hand
15,000
Cash at Bank
16,000
31,000
esentation
2,17,000
2,17,000
70​

Answer 1

Answer:

6,000

18,000

20,000

13,000

7,000

By Balance c/d

1,000

20,000 Cash in Hand

15,000

Cash at Bank

16,000

31,000

esentation