Question

Amount
16. The following is the summary of the Cash Transactions of a 'Literary Society for the year ended
31st March, 2013:
Receipts
Amount
Payments
7
7
Balance from last year
319 Rent & Tax
Entrance Pees
255 Wages
Subscription
1,600 Lighting
72
Donations
165
Lecturers Fees and Expenses
Life Membership Pee
250 Books
213
Interest
Office Expenses
450
Profit from Entertainments
42
Placed on 8% Fixed Deposit on 1st
800
Oct., 2012
Cash at Bank
242
Cash in hand
20
2,645
2,645
At the beginning of the year, the Society possessed Books worth 2,000 and Furniture then
valued at 850
ds
Ordinary subscriptions in arrear at the beginning of the year amounted to 35 and at the end
of the year to 745 and six months rent (60) was due both at the beginning and end of the year,
Prepare the Society's Income and Expenditure Account for the year ended 31st March, 2013 and
its Balance Sheet as on that date.
750 is to be written-off Furniture and 113 off Books.
(Ans. Surplus 7571; Balance Sheet total 4,025.)
T800 x 8 6
Hint: (1) Accrued Interest
- 14 =718, (2) Capital fund 3,144.]
100 12
) - 2​

Answer 1

Answer:

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