Question

Chapter 1 Financial Statements of Notre
estration 3
Receipts and Payments Account of Medical Aid Society for the year ended 31st March, 2020
is given below
Cr.
RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2020
₹
Payments
TO Salance bd cash in Hand
Slande bildCash at Bank
To Subscriptions
To General Donations
To Donations Medical Camps)
To interest on investments @ 7% pa
To Chanty Show Proceeds
To Government Grant (Polio Eradication)
20.000
50,000
5,00,000
45,000
1,00,000
70,000
30,000
70.000
By Medicines
By Medicines (Polio)
By Honorarium to Doctors
By Salaries
By Sundry Expenses
By Equipments
By Charity Show Expenses
By Balance cld (Cash in Hand)
By Balance cld (Cash at Bank)
2,50,000
50,000
1,00,000
2,75,000
5,000
1,50.000
10.000
15,000
30.000
8,85,000
8,85,000
Additional Information:
1st April
2019
5,000
Subscriptions Due
Subscriptions Received in Advance
Stock of Medicines
31st March,
1st April, 31st March,
2020)
2019) 2020 )
10,000 Amount Due to Medicine Suppliers 80,000 1,20,000
5,000 Equipments
2,10,000 3,00,000
1,50,000 Building
4,00,000 3,80,000
10,000
1,00,000
Prepare Income and Expenditure Account for the year ended 31st March, 2020 and
Balance Sheet as at that date.​

Answer 1

Answer:

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