Question

Receipts
2. On ist January, 2018, assets and liabilities of a Literary Society are as follows:
Cash ? 212: Omice Furniture ? 350; 4% 600 Municipal Debentures at cost ? 636; Stock
of Literature ? 47: Subscriptions for 2018 received in advance ? 42 : Rent outstanding * 20.
The following is a summary of the cash transactions for the
year 2018:
R.
CR.
Amount
Payments
Amount
₹
o Balance bd 10
212 By Rent IE
240
o Subscription and Donations TEN
741 By Salaries i
650
o Subscription for 2019
By Office Expenses 16
73
ceived in Advance
28 By Cost of 3%, 300
o Interest 216
24 Govt. Paper
255
Literature Sales
715 By Lecturer's Fees TIC
136
Municipal Debentures
By Office Furniture
40
01$
Face Value 1 200)
205 By Literature Purchases
418
Receipts from lecture Tickets
109 By Balance c/d
222
2,034
2,034
On 31st December, 2018, 20 were outstanding for rent and the stock of literature in hand
was valued at 56.25 is to be written off from furniture as depreciation,
Prepare the final accounts of the society.
Furniture 26​

Answer 1

Answer:

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