Question

ILLUSTRATION 1.
From the following particulars relating to Rotary Club, New Delhi, prepare a
Receipt and Payment Account for the year ending March 31, 2019:
7,500
48,000
Cash in hand as on April 1, 2018
Cash at bank as on April 1, 2018
Subscriptions collected for the year ending :
31st March, 2018
31st March, 2019
31st March, 2020
Donations received
Donation received for Pavilion
8% Investments purchased on 1-07-2018
Purchase of refreshments
Rent paid
Entrance fee received
Honararium to Secretary
Interest on 8% Investments
Furniture purchased
Sale of old furniture (Cost 6,000)
Sports materials purchased
Sale of refreshments
Salaries and Wages
Sports expenses (including unpaid expenses 5,000)
Cash in hand as on March 31, 2019
Depreciate furniture @ 10% p.a.
15,000
2,20,000
6,000
25,000
2,00.000
2,00.000
12,000
6,000
18,000
10,000
9,000
20,000
4,000
80,000
30,000
74,000
25,000
6,200
OTTI​

Answer 1

Answer:

2018

Subscriptions collected for the year ending :

31st March, 2018

31st March, 2019

31st March, 2020

Donations received

Donation received for Pavilion

8% Investments purchased on 1-07-2018

Purchase of refreshments

Rent paid

Entrance fee received

Honararium to Secretary

Interest on 8% Investments

Answer 2

Answer:

Explanation:

                           Receipt and payment account                                                  

           Receipts          in Rs                         Payment                      in Rs

To balance b/d                                      By Investment           2,00,000

Cash in hand            7500                  By refreshment                 12000

cash at Bank              48000               By  rent                               6000

To Subscription        241000                By  honarium                  10000

To Donation               25000                By   Furniture                  20000

To  Donation for pavi   200,000            By sports material        80000

To Entrance fee              18000            By sports expense        25000

To Int rec                         9000             By bal c/d                      

To locker rent                 8000                 cash in hand     8000        

To furniture                      4000                 Cash at bank  237500

To sale old sports           3000

To sale of refreshment   30000

                                                                                                                               

                                     593500                                                  593500