Example of accounting sum including bank overdraft in npo
Answers
Answer:
Bank overdrafts may be included as cash where the overdraft is repayable on demand and is essential in the company's cash management. ... If the overdraft is not repayable on demand, changes in the balance are treated as a financing activity, not a change in cash or cash equivalents.
Answer:
Solved Example for You
Question: From the following particulars related to Arman Point, prepare a Receipt and Payment account for the year ending 31st March 2018
Particulars Amount Particulars Amount
Opening cash balance 500 Sale of old sports materials 600
Opening bank balance 3600 Donation received 2300
Subscriptions collected for Rent paid 1500
2016-17 ₹ 250 Sports materials purchased 2400
2017-18 ₹ 3800 Purchase of refreshments 300
2018-19 ₹ 450 4500 Expenses for maintenance 1000
Sale of refreshments 500 Salary paid 1250
Entrance fees 500 Tournament expenses 1200
Furniture purchased 750
Office expenses 600
Closing cash in hand 200