From the following informations, prepare the Income and
Expenditure Account for the year ending 31st March 2019 :
Fees collected 3,00,000
Salary paid 2,00,000
Tournament expenses 16,000
Travelling Expenses 17,000
Stationary Expenses 12,000
Rent paid 10,000
Postage and Telephone expenses 8,000
Purchase of Books 18,000
Answers
Answer:
In and Ex. Account for the yr 31 Mar. 2019
Dr. Cr.
Expenditure Amount. Income. Amount
Salary Paid. 2,00,000 Fees coll. 3lakh
Tourn. Exp. 16,000.
Travlng Exp. 17,000
Statinry Exp. 12,000
Rent Paid 10,000
Post. nd tlpn. 8,000
Pur. of goods. 18,000
Surplus 19,000
_______ _______
3,00,0000. 3,00,000
Surplus Of Income and Expenditure account = 19,000.
Only Fees collected is the income to this firm and all others are expenditures. The surplus in income and expenditure ac is added along with the capital.
Note :
• The particulars are not Written properly.
look the question for it.