Question

How will the following information of Royal Sports Club be presented in
the Income and Expenditure Account for the year ended 31st March, 2019
and its Balance Sheet as on that date?
Amount
Particulars
₹
Tournament Fund as on 1st April, 2018
5,00,000
Tournament expenses incurred during the year
8,00,000
Donations for Tournament Fund received during the year 1,20,000
Sale of Tournament tickets during the year
1,50,000​

Answer 1

Answer:

Investments Purchased

5,00,000

Cash in Hand

50,000

Rent Paid

50,000

Cash at Bank

3,40,000

3,90,000

General Expenses

2,30,000

Subscription Received

15,70,000

Postage and Stationery

25,000

Donation Received

2,80,000

Newspapers and Magazines

87,000

Sale of Old Newspapers

12,000

Books Purchased

3,40,000

Interest on Investments Received

50,000

Sports Material Purchased

4,70,000

Honorarium to Coacher

1,50,000

Balance c/d

Cash in Hand

30000

Cash at Bank (Balancing Figure)

4,20000

4,50,000

23,02,000

23,02,000