Following is the Receipt & Payment A/c of a hospital for the year ended 31.3.2020: Receipt Rs. Payments Rs. To Balance b/d 22,500 By payment for medicines 42,000 To Subscription 48,000 By fees to doctors 24,000 To Donations 15,000 By salaries 27,000 To Interest on investments @ 9% p.a. for the year 9,000 By Equipment purchased 15,000 To Proceeds from charity show 12,000 By charity show expenses 4,000 To Grant in aid 20,000 By sundry expenses 1,200 By Balance c/d 13,300 1,26,500 1,26,500 Other Information: 1.4.2019 31,3,2020 Subscription due 500 1,000 Subscription received in advance 1,000 2,000 Stock of medicines 10,000 15,000 Amount due to medicine suppliers 8,000 12,000 Value of Equipment 25,000 33,000 Value of Building 70,000 65,000 Prepare Income and Expenditure Account for the year ended 31.3.2020 and Balance Sheet as at that date.
Answers
Answered by
0
From the following the we have to prepare
- previous year balance sheet(1/4/2019) and then
- we have to calculate income and expenditure account
- and at last the current year Balance sheet ( 31/3/2020)
The balance sheet as on (31/3/2020) total = 231500
Income and expenditure account total = 109200 , with excess expenses of 4200.
The capital fund or (balance figure) = 219000
WORKING NOTE - 1 ( in the previous year balance sheet (1/4/2019))
WORKING NOTE - 1 ( in the previous year balance sheet (1/4/2019)) Value of investment
if the intrest = 9, value of investment is 100
if interest = 9000, value of investment is 100/9*9000
= 100000
Investment = 100000
Refer attachment for income and expenditure account and balance sheet.
Attachments:
Similar questions