According to the Kooo O Donnell the oraganising are of how many types
Answers
Explanation:
The following is the summary of cash transactions of an Institute for the year ending
on 31st March, 2018 :
Receipts
Amount
Payments
Amount
₹
Balance b/d
200
172
160
Entry Fee
Subscription
General Donation
Interest on F.D. [for 3 months)
Life Membership Fee
208
180
70
915 Rent
412 Stationery
4,500 Books
748 General Expenses
100 Wages
240 Electricity Expenses
Refreshment
Office Expenses
Furniture
Fixed Deposit
(At 10% on 1 April, 2017)
Cash Balance
207
38
180
4,000
600
Bank Balance
900
6,915
6,915
In the beginning of the year, Institute has Furniture worth 2,000 and Books
worth * 1,500. At the end of the year subscription from members was due for
* 250 and 78 were received in advance. At the end of the year rent was
outstanding * 70. Write off depreciation on furniture # 109 and on books * 166.
Adjust earned interest on fixed deposit in the Bank.
Prepare Income & Expenditure Account and Balance Sheet as on 31st March, 2018
and calculate the opening capital.
Ans: Capital 4.415