Question

8. From the following Receipts and Payments account and other details of "Laharika Charitable
Trust". Prepare Income and Expenditure account for the year ended 31-03-2015
Dr.
Receipts and Payments Ale
Receipts
Amount
Amount
Payments
₹
₹
To Opening Balance
6.000
20.800 By Salaries (Including 400
To Subscriptions (Including
for 2013-2014)
750 for 2013-2014)
790
21.250 By Telephone charges
To Life membership fee
600
1.300 By Printing
To Interest on investments
1.000 By Travelling
650
To Donations
10.000 By Rent
5.400
By Books
3.000
By Charities
5,000
By Balance cld
32,910
54.350
54.350​

Answer 1

Here is the income and expenditure account of "Laharika Charitable Trust" for the year ended 31/3/15 :

EXPENDITURE                  Amount            INCOME                            Amount

to salaries                            6,000              by life membership fee     21,250

to subscriptions :                                         by interest on investments  1,300

                     20,800                                    by donations                       10,000

less 2013-14 - (400 )                                      by charities                          5,000

add 2014-15 - (750 )                                      by deficit                                390

___________________   21,150

to telephone charges           790

to printing                              600

to travelling                          1,000

to rent                                   5,400

to books                               3,000

_______                           _________                                                ________

TOTAL                                 37,940                                                           37,940

________                         __________                                            _________