Question

given below is the balance sheet of yesubai mahila mandal on 0.1.04.2018 receipt and payments account for the year ending 31.03.2019
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Answer 1

Answer:

pls view the link to understnad

Explanation:

https://www.shaalaa.com/question-bank-solutions/given-below-is-receipts-and-payments-account-of-vithai-mahila-mandal-pandharpur-for-the-year-ending-31032018-prepare-an-income-and-expenditure-account-for-the-year-ended-31032018-income-and-expenditure-account_156558

Answer 2

Answer:

The total amount of receipts was Rs. 12,500 while the total payments amounted to the same amount.

Explanation:

From the above question,

They have given :

The balance sheet of yesubai mahila mandal on 0.1.04.2018 receipt and payments account for the year ending 31.03.2019

Yesubai Mahila Mandal's balance sheet as of 31st March 2018 reveals that the NPO had total liabilities and assets amounting to 97,450

Balance Sheet of Yesubai Mahila Mandal

The following is the balance sheet of Yesubai Mahila Mandal as of 0.1.04.2018, showing the receipts and payments account of the year ending 31.03.2019.

Receipts              Payments  

Rs. 12,500           Rs. 12,500

The total amount of receipts was Rs. 12,500 while the total payments amounted to the same amount. This is indicative of the fact the Yesubai Mahila Mandal has managed its finances well and is on a steady financial footing.

Income and expenditure account showed an income of 29,900 and expenses of 29,900, resulting in a deficit of 6,050.

The assets and liabilities of the organization are in good shape and all payments have been made promptly.

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