Question

From the following particulars prepare receipt and payment account of sagar sports club for the year ending 31 /3/2014
cash in hand on 1/4/2013 Rs 10000 and cash at bank Rs 20000,
donation received Rs 60000,
sports equipment purchased Rs 31000,
admission fees received Rs 25500 , general expenses Rs 8300,
salary paid to staff Rs 24400,
security purchased Rs 30000,
on 31/03/2014 cash in hand Rs 6800 and
cash at bank Rs 15000​

Answer 1

Given:

from the following particular we are required to prepare Receipt and payment :

cash in hand on 1/4/2013 Rs 10000

and cash at bank Rs 20000,

donation received Rs 60000,

sports equipment purchased Rs 31000,

admission fees received Rs 25500 ,

general expenses Rs 8300,

salary paid to staff Rs 24400,

security purchased Rs 30000,

on 31/03/2014 cash in hand Rs 6800 and

cash at bank Rs 15000

To find:

Receipt and payment accounts for the year ending 31-3-2014

Dr. Receipt

To Bal b/d

cash in hand 10,000

cash at bank 20,000

To donations 60,000

To admission fees 25,500

1,15,500

Cr. payment

By sports equipment 31,000

By general exp 8,300

By salaries& wages 24,400

By purchase of securities 30,000

By bal c/f

cash in hand 6,800

cash at bank 15,000

1,15,500

solution:

total of both dr and Cr side is 1,15,500.