Chapter 1 . Financial Statements of Not-for-Profit Organisations 1.5
Illustration 1.
From the information given below, prepare Receipts and Payments Account of Friends Club,
Delhi, for the year ended 31st March, 2020:
Cash Balance on 1st April, 2019 44,000; Subscriptions 3,76,000; Donations * 80,000; Entrance
Fees * 43,000; Rent Realised from Club Hall 52,500; Electricity Charges 34,400; Taxes
75,000; Salaries and Wages * 2,15,000; Honorarium to Secretary * 25,000; Interest Received
on Investments * 29,500; Printing and Stationery * 3,500; Petty Expenses + 9,000; Insurance
Premium Paid 3,100.
Solution:
Friends Club, Delhi
Dr.
RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2020
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Answer:
1.2-439534
Explanation:
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