Question

Find out the Excess of Income Spoints
over Expenditure(Surplus)
from the following Receipts
and Payments Account of a
Club for the year ended 31st
December 2019: Receipts:
Cash in hand(1.1.2019) Rs
1.000: Cash at Bank( 1.1.2019)
Rs 4.000: Donation for
Building Rs 10.000: Sale of
Furniture(Balance on 1.1.2019
Rs 100)Rs 80; Sale of
Newspapers Rs 200:
Subscriptions Rs 20.000.
Payments: Sports Materials Rs
2.500; Salaries Rs 3250:
Furniture Rs 1,600:
Newspapers Rs 500: Building
Fund Investment Rs 10.000;
Tournament Expenses Rs
11,000; Postage Rs 200: Cash
in hand closing balance rs 1039 cash at bank closing balance ) rs 5200 the following adjustment are to be mad :I) of the subscription is collected rs 2000 was outstanding for 2018 2) ON 1.1 2019 STOCK OF RAW MATERIAL was rs 500 and 1.1.2020 it was rs 700​

Answer 1

Answer:

hand closing balance rs 1039 cash at bank closing balance ) rs 5200 the following adjustment are to be mad :I) of the subscription is collected rs 2000 was outstanding for 2018 2) ON 1.1 2019 STOCK OF RAW MATERIAL was rs 500 and 1.1.2020 it was rs 700