Question

g. 13. Following is the Balance Sheet and Receipts and Payments Account of the Sevagiri Hospital,
Satara : Prepare Income and Expenditure account for the year ended on 31st March, 2020 and
Balance Sheet as on that date :
T-2,500 = 3,600
100
Х
2,500 = 1.100.1
)
7.500
Balance Sheet as on 1st April, 2019
Liabilities
Amount
Assets
Amount
Capital Fund
Outstanding Salaries
Medical Bill Unpaid
0.000
-,000
,000
900
10,00,000 Cash in Hand
22,000 Cash at Bank
6,000 Land and Building
Furniture
Equipment
Outstanding Subscription
6.000
30.000
8.00.000
70,000
1,20,000
2,000
10,28,000
10.28.000
000
500
Receipts and Payments Account for the year ending 31st March, 2020
000
Receipts
Amount
000
To Balance b/d
1,10,000
Cash in Hand
48,000
Cash at Bank
Amount
Payments
(5)
By Salaries (Including of previous year)
6,000 By Medicines
30,000 By Equipment Purchased
1,30,000 By Taxes
By General Expenses
By Balance c/d
20,000 Cash in Hand
To Subscription
(Including * 2,000 received for previous
20,000
3,000
8,600
year)
15,400
Cash at Bank
To Sale of Old Furniture
(Book value 30,000)
To Donations (Revenue)
To Life Membership Fees
50,000
44,000
25,000
2,55,000
2,55,000
Consider the following adjustments :
(1) Outstanding subscription 15,000.
(2) Capitalise the amount of life membership fees.
(3) Prepaid taxes 500.
(4) Outstanding salary 12,000.
(5) Write off depreciation 20,000 from land and building and * 30,000 from equipment.
(6) Outstanding medicine bill as on 01 - 04 - 2019 is still due.
itol fund at the end = 992 900
fic
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Answer 1

Answer:

Given selling price of watch = Rs 1275

loss = Rs 15

Let CP be x then

loss = CP-SP=15

x-1275=15

x=1275+15=1290 Rs

∴ cost price of width in 1290 Rs

if gain = 10

then SP = gain + cost price

SP = 10+ 1290

SP= 1300 Rs

For making profit of 10, selling price will be 1300 Rs.