Question

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Accounting for Not-for-Profit Organisations
2
To Subscriptions
To Entrance Fee
To Tournament Fund
To Sale of Old Newspapers
To Legacy
52,000 By Billiards Table
5,000 By Office Expenses
26,000 By Tournament Expenses
1,000 By Sports Equipments
37,000 By Balance c/d
1,31,000
20,000
6,000
31,000
40,000
19,000
1,31,000
Other Informations :
On 31.12.2017 Şubscription outstanding was * 2,000 and on 31.12.2016 Şubscription
outstanding was 3,000. Salary outstanding on 31.12.2017 was * 1,500.
On 1.1.2017 the Club had building * 75,000, furniture 18,000, 12% investment * 30,000 and
sports equipment * 30,000. Depreciation charged on these items including purchases was 10%.
Prepare Income and Expenditure Account of the Club for the year ended 31.12.2017 and
ascertain the Capital Fund on 1.1.2017.
no 16 800 Canital Fund (11.2017) * 1.66.000.)​

Answer 1

Answer:

Accounting for Not-for-Profit Organisations

2

To Subscriptions

To Entrance Fee

To Tournament Fund

To Sale of Old Newspapers

To Legacy

52,000 By Billiards Table

5,000 By Office Expenses

26,000 By Tournament Expenses

1,000 By Sports Equipments

37,000 By Balance c/d

1,31,000

20,000

6,000

31,000

40,000

19,000

1,31,000

Other Informations :

On 31.12.2017 Şubscription outstanding was * 2,000 and on 31.12.2016 Şubscription

outstanding was 3,000. Salary outstanding on 31.12.2017 was * 1,500.

On 1.1.2017 the Club had building * 75,000, furniture 18,000, 12% investment * 30,000 and

sports equipment * 30,000. Depreciation charged on these items including purchases was 10%.

Prepare Income and Expenditure Account of the Club for the year ended 31.12.2017 and

ascertain the Capital Fund on 1.1.2017.

no 16 800 Canital Fund (11.2017) * 1.66.000