Question

From the following Receipts and Payments Accounts of Narmada Club, for the year ended 31st
March, 2019. Prepare Income and Expenditure Account for the year ended 31st March, 2019.
Receipts and Payments Account for the year ended 31st March, 2019
Particulars
amount
Particulars
Amount
To Balance b/d
1,50,000 By Salaries
55,000
To Donations
15,000 By sports goods
14,000
To Proceeds from charity
48,000 By Repairs
15,000
Show
By Printing and Stationery
16,000
To Subscription
24,000 By 8% investments
80,000
To Life membership fees
22,000
By Match expenses
15,000
To Entrance Fees
30,000 By Furniture(purchased on
50,000
To Interest on investment 4,000 31st Dec. 2018)
To Match Fund
20,000 By Balance c/d
48,000
3,13,000
3,13,000
Additional Information :-
1. Depreciate furniture by 10% p.a.
2. There were 300 members and per member subscription was 2100
3. Sports goods was on 31st March 20180 3,000 and on 31st March 2019 was 25,000
4. Salaries paid for 11 months.​

Answer 1

Answer:

$\huge{\underline{\underline{Given→}}}$

$\rm\green{Observations=17,15,18,15,10}$

$\rm\green{No.of\:observations=5}$

$\huge{\underline{\underline{To\:Find→}}}$

$\rm\purple{Mean\:of\:the\:given\:data}$

$\huge{\underline{\underline{Answer→}}}$

${\boxed{\red{\dashrightarrow}{\rm{\red{Mean=\dfrac{\rm{\small{Sum\:of\:all\:observations}}}{\rm{\small{No.of\:observations}}}}}}}}$

$\rm\blue{→\bar{x}=\dfrac{17+15+18+15+10}{5}}$

$\rm\blue{→\bar{x}=\dfrac{75}{5}}$

$\rm\blue{→\bar{x}=\dfrac{\red{\cancel{\blue{75}}}}{\red{\cancel{\blue{5}}}}}$

$\rm\blue{→\bar{x}=15}$

${\boxed{\boxed{\rm{\pink{→\bar{x}=15✔}}}}}$

☞ Hence the mean of the given data is 15 which is the required answer.

HOPE IT HELPS.

Answer 2

The excess of Income over Expenditure (Surplus) is Rs. 1,52,000.

Account of Income and Expenditure for the fiscal year that concluded on March 31, 2019

Particulars

Amount (Rs)

Amount (Rs)

To Salaries

55,000

To Sports goods (Increase)

11,000

To Repairs

15,000

To Printing and Stationery

16,000

To Match expenses

15,000

To Depreciation on Furniture

5,000

To Interest on investments

4,000

To Balance of Match Fund (Decrease)

(20,000)

To Excess of Income over Expenditure (Surplus)

1,52,000

1,52,000

Calculation of Income and Expenditure Account

Total Income

Amount (Rs)

Amount (Rs)

Subscription

6,30,000

Life Membership Fees

22,000

Entrance Fees

30,000

Interest on investments

4,000

Donations

15,000

Proceeds from charity

48,000

Total Income

7,49,000

Total Expenditure

Amount (Rs)

Amount (Rs)

Salaries

55,000

Sports goods (Decrease)

(14,000)

Repairs

15,000

Printing and Stationery

16,000

Match expenses

15,000

Depreciation on Furniture

5,000

Total Expenditure

96,000

Net Income (Surplus)

Amount (Rs)

Amount (Rs)

Total Income - Total Expenditure

6,53,000 - 96,000

5,57,000

Adjustments:

Subscription: 300 members * Rs. 2,100 per member = Rs. 6,30,000

Sports goods: Rs. 25,000 - Rs. 3,000 = Rs. 22,000

Salaries: Rs. 55,000 * 12/11 = Rs. 60,000

Depreciation on Furniture: Rs. 50,000 * 10% = Rs. 5,000

Match Fund: Opening Balance - Closing Balance = Rs. 20,000 - Rs. 48,000 = (Rs. 28,000)

Therefore, the excess of Income over Expenditure (Surplus) is Rs. 1,52,000.

For such more questions on income,

https://brainly.in/question/11742711

#SPJ3