Question

(Class: PUC- Il Commerce) (Subject Accountancy) (Date: 12/10/2020) (Max. Mrks-25) Time 1 Hr
1. Answer the following questions,
(2 X 12.5 = 25 M)
diture
CT
01. Followings are the Balance Sheet and Receipts and Payments Account of
Sharada Education Society, Mangaluru,
Balance Sheet as on 31-03-2017
Liabilities
Assets
Capital ſund
36,400 Cash in hand
2,050
Audit fees
2,500 Maps and charts
1,600
5% Govt. Bonds
31,000
Subscriptions outstanding 1,000
Furniture
3,250
38,900
38,900
Receipts and Payments A/C for the year ending 31-03-2018
Dr.
Cr.
Receipts
Payments
To Balance b/d
2,050 By Audit fees
2,500
To Subscriptions
20,500 By Rent
1,800
To Donation
2,500 By Maps and charts
3,400
To Interest on Govt.
850 By Stationery and postage
250
Bonds
By Salary
8,000
By Functions
1,050
By Balance c/d
8,900
25,900
25,900
Adjustments:
1) Audit fees 2,500 still due
2) Charge 250 as depreciation on furniture.
3) Half of the donation is to be Considered as revenue.
4) Outstanding Subscriptions €2,000 and subscriptions received in advance #1,500
Prepare: i) Income and Expenditure Account and
ii) Balance Sheet as on 31-03-2018​

Answer 1

Answer:

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Explanation:

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