Question

From the following Receipts and Payments account and information provided, prepare

Income and Expenditure account of Hindu Educational Society for the year ended 31st

March, 2010

Receipts Rs Payments Rs

To Balance B/d 1,50,000 By Rent 9,500

To Interest on Investments 5,000 By Postage expenses 1,500

To Subscriptions 1 ,80,000 By 10% Investments (1.10.2010) 50,000

To Sale of Newspaper 3,000 By Advt. Expenses 11,000

To Sale of computers 15,000 By Salaries 11,000

To Donations 75,000 By Balance c/d 11,000

------------ ------------

4,28,000 4,28,000

------------- -------------Additional information:

(a) Subscriptions due on 31st Mar 2009 and 31st Mar 2010 were Rs 3,500 and

Rs 6,200resp.

(b) Subscriptions paid in advance as on 31st Mar 2009 and 31st Mar 2010 were

Rs 1,800 and Rs 1,500 resp.

(c) The book value of Computers on 1st Apr 2009 was Rs 50,000 of which half

Computers were sold during the year

(d) The book value of Investments on 1st Apr 2009 was Rs75,000 and the rate of

Interest was 10%

(e) Outstanding expenses for Rent, Postage and Salaries for the currentyear were

Rs 900, Rs 400 and Rs 15,000 resp.​

Answer 1

Answer:

to surplus ( excess of Income over expenditure ) ( balancing figure ) = Rs 1,52,950.

Explanation:

I think it's correct..