Сол се усе Dr. BOARD PROBLEMS (52) TYPE (I) - WHEN OPENING BALANCE SHEET IS NOT GIVEN the year ending 31/03/2020, prepare Income and Expenditure A/c for the From the following information and Receipt & Payment A/c of Flower Club ended 31/03/2020 and a Balance Sheet on that date. Receipts and Payments Alc. То В. Tos Dr. 2 2 To Amount Amount (*) To 4,500 2,2013 TO T Receipts To Balance b/d To Subscription (incl. * 250 for 2018-19 and * 150 for 2020-21) To Donations To Entrance Fees To Sale of Old Papers To Sale of Old Furniture (Book value 300 as on 1/4/2019) 5,001) Payments 3,350 By Salaries By Rent By Printing & Stationery 8,900 By Postage 15,000 By Furniture (1/4/2019) 100 By Investments in Govt. Bonds 50 By Fixed Deposit in Bank of Baroda By Sports Material 300 By General Expenses By Balance c/d 27,700 10,00 700 2,450 27,700 Other information : (1) (2) Donations represents donation for Building Fund and Entrance Fees are to be treated 81 Assets on 1/4/2019 were: Land 75,000, Furniture * 300, Sports material ? 1,000. (3) Subscription of 500 is outstanding for 2003-04. (4) Outstanding salary for 2019-20 is 500.
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Answer:
Explanation:
1). There are 1, 800 members each paying an annual subscription of Rs. 200. Rs.8,000 were in arrears for 2013-14asonApril 1,2014. 2). On 31-03-2015 the rates were prepaid to June 2015, the charge paid every year being Rs.24,000 3). There was an outstanding telephone bill for Rs.1400 on 31-3-2015 4) Outstanding sundry expenses as on 31-2- 12014 totalled Rs.2800 5) Stock of stationery 31-03-2014 was Rs. 2,000 on 31-03-2015 it was Rs.3,600. 6) On 31-03-2014, Building stood at Rs.4,00,000 and it was subject to depreciation @ 2.5% p.a. 7) Investment on 31-03-2014 stood at Rs.8,00,000. 8) On 31-03-2015, income accrued on investments amounted to Rs.1,500.Read more on Sarthaks.com - https://www.sarthaks.com/1055742/prepare-income-expenditure-account-balance-sheet-ending-2015-from-following-information
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