Accountancy, asked by m024806, 5 months ago

53. Following Receipts and Payments Account was prepared from the Cash Book of Delhi Charitable

the year ending 31st March, 2020:

RECEIPTS AND PAYMENTS ACCOUNT for the year ending 31st March, 2020



1,15,000

1,26,000

90,000

4,28,000

1,80,000

45,000

2,000

Payments

By Charity

By Rent and Taxes

By Salary

By Printing

By Postage

By Advertisements

By Insurance

By Furniture

By Investment

By Balance c/d: Cash in Hand

Cash at Bank

Dr.

Receipts

To Balance b/d:

Cash in Hand

Cash at Bank

To Donation

To Subscription

To Legacy Donations

To Interest on Investment To Sale of Old Newspapers

Trust f

CG



1,15,000

32,00

60,000

6,000

3,000

45,000

20,000

2,16,000

2,30,000

99,000

1,60,000

9,86,000

9,86,000

Prepare Income and Expenditure Account for the year ended 31st March, 2020 and Balance Sheet as on that date after the following adjustments:

(i) Insurance premium was paid for insurance taken w.e.f. 1st July, 2019. (ii) Interest on investment 11,000 accrued was not received.

(iii) Rent 76,000; Salary 9,000 and advertisement expenses ? 10,000 outstanding as on 31st

(iv) Legacy Donation is towards construction of Library Block.

March, 2020.

(NCERT, Modified) in

Answers

Answered by PixleyPanda
5

Answer:

Explanation:

.Calculation of Capital:

Capital= Assets - liabilities

= 2,41,000-0

= Rs 2,41,000

Answered by TheUntrustworthy
51

Prepare Income and Expenditure Account for the year ended 31st March, 2018 and Balance Sheet as on that date after the following adjustments:

  • Insurance premium was paid in advance for three months.
  • Rent Rs. 6,000; Salary Rs. 9,000 and advertisement expenses Rs. 10,000 outstanding as on 31st March, 2018.
  • Interest on investment Rs. 11,000 accrued was not received.
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