From the following Receipt and Payment Account and additional
nformation of Ashoka Club for the year ended 31-3-2017 prepare :
(1) Income and Expenditure Account of the Club for the year ended 31-3-2017
and
(ii) Prepare the Balance Sheet as at 31-3-2017
6,000
4.100
2.000
Receipts
Balance b/d
Subscriptions:
2015-16
2016-17
2017-18
Entrance Fees
Municipal Grant
Sale of old furniture
(Book value 38,000)
2,400
53,000
1.000
Payments
25,000 Salary
Newspapers
Electricity bill
Fixed deposit
56,400 (on 1-1-2017 @ 9% p.a.)
2,500 Books
20,000 Rent
Furniture
11,400 Balance c/d
1,15,300
40,000
21,200
13,600
21,000
7,400
1,15,300
Additional Information :
(i) Subscriptions outstanding as on 31-3-2016 were 3,000 and on 31-3-2017
6,000.
(ii) On 31-3-2016 salary outstanding was 900 and on 31-3-2017 salary
outstanding was 1,200.
(iii) The Club owned furniture 30,000 and books 14,000 on 1-4-2016.
Answers
Answer:
Showing results for From the following Receipt and Payment Account and additional information of Ashoka Club for the year ended 31-3-2017 prepare : (1) Income and Expenditure Account of the Club for the year ended 31-3-2017 and (ii) Prepare the Balance Sheet as at 31-3-2017 6,000 4.100 2.000 Receipts Balance b/d Subscriptions: 2015-16 2016-17 2017-18 Entrance Fees Municipal Grant Sale of old furniture (Book value 38,000) 2,400 53,000 1.000 Payments 25,000 Salary Newspapers Electricity bill Fixed deposit 56,400 (on 1-1-2017 @ 9% p.a.) 2,500 Books 20,000 Rent Furniture 11,400 Balance c/d 1,15,300 40,000 21,200 13,600 21,000 7,400 1,15,300 Additional Information : (i) Subscriptions outstanding as on 31-3-2016 were 3,000 and on 31-3-2017 6,000. (ii) On 31-3-2016 salary outstanding was 900 and on 31-3-2017 salary outstanding was 1,200. (iii) The Club owned furniture 30,000 and books 14,000 on 1-4-2016.
Search instead for From the following Receipt and Payment Account and additional nformation of Ashoka Club for the year ended 31-3-2017 prepare : (1) Income and Expenditure Account of the Club for the year ended 31-3-2017 and (ii) Prepare the Balance Sheet as at 31-3-2017 6,000 4.100 2.000 Receipts Balance b/d Subscriptions: 2015-16 2016-17 2017-18 Entrance Fees Municipal Grant Sale of old furniture (Book value 38,000) 2,400 53,000 1.000 Payments 25,000 Salary Newspapers Electricity bill Fixed deposit 56,400 (on 1-1-2017 @ 9% p.a.) 2,500 Books 20,000 Rent Furniture 11,400 Balance c/d 1,15,300 40,000 21,200 13,600 21,000 7,400 1,15,300 Additional Information : (i) Subscriptions outstanding as on 31-3-2016 were 3,000 and on 31-3-2017 6,000. (ii) On 31-3-2016 salary outstanding was 900 and on 31-3-2017 salary outstanding was 1,200. (iii) The Club owned furniture 30,000 and books 14,000 on 1-4-2016.
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