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
5
Answer:
Explanation:
.Calculation of Capital:
Capital= Assets - liabilities
= 2,41,000-0
= Rs 2,41,000
Answered by
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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