Question

From the following transactions of Receipts and Payments Account of
Pavan-Putra Hanuman Vyayamshala" Parbhani, and the adjustments
given, you are required to prepare Income and Expenditure Account and
Balance Sheet as on 31" March, 2019.
(12)
Receipts and Payment Account for the year ending 31.03.2019.
Dr.
Cr.
Receipts
Amount
(7)
Payments
Amount
EL
To Balance b/d
By Salaries
6.000
Cash in Hand
5,000 By Entertainment
2,480
To Subscriptions
Expenses
2018 - 19
2019 - 20
18.000
410
By Sundry Expenses
18,410 By Electricity Charges
To Donations
6,000 By Rent
To Receipts from
5,400 By Investment
Entertainment
By Printing & Stationery
To Interest
400 By Postage
To Entrance fees
6,200 By Fixed Deposit
1.300
1,200
700
15,000
800
3,200
3,900
By Balance c/d
Cash in Hand
6,830
41,410
41,410
Adjustments:
(1) There are 500 members paying an annual subscription of *50 each.
(2) Outstanding Salary was 21,200.

The Assets on 01.04.2018 were as follows: Building 250,000, Furniture
215,000.
(4) rovide depreciation on Building and Furniture at 5% and 10%
respectively.
(5) 50% of Entrance Fees is to be capitalized.
(6),
interest on Investment at 5% p.a. has accrued for 6 months.
(7) Capital Fund 270,000 on 01.04.2018.

Answer 1

1. Income Method GNPFC = Compensation of employees + Rent + Interest + Undistributed Profits + Dividend + Net

Factor Income from Abroad + Consumption of fixed capital = 1850 + (400 +500 +900 + 200) + (-) 50+ 100 = 3900

CRORE Note: o GNPFC = NNPFC + Consumption of fixed capital o NNPFC = Compensation of employees + Rent +

Interest + Undistributed Profits + Dividend + Net Factor Income from Abroad o Compensation of employees is

income from work which includes wages and salaries in kind and cash, and contribution to social securities

Answer 2

MARK ME AS THE BRAINLIEST.