Question

To Subscriptions
To Interest on Investment
To Sale of Old Furniture
12,000 By Rent and Rates
2,500 By Printing & Stationery
75 By Postage
By Advertising
By Purchase of Furniture
By Investments
By Balance (31-3-2018)
29,275
1,200
300
100
250
750
5,000
8,575
29,275
One-half of donation is to be treated as income, 100 were owing for rent, 300 for staff salary and
50 for advertising at the end of the year. Interest on investment 525 had accrued but not received.
[Ans. Excess of Income over Expenditure 3,625.) (J.A.C., 2014 without adjustments)
Income and Expenditure Account in the books of
no​

Answer 1

To Subscriptions

To Interest on Investment

To Sale of Old Furniture

12,000 By Rent and Rates

2,500 By Printing & Stationery

75 By Postage

By Advertising

By Purchase of Furniture

By Investments

By Balance (31-3-2018)

29,275

1,200

300

100

250

750

5,000

8,575

29,275

One-half of donation is to be treated as income, 100 were owing for rent, 300 for staff salary and

50 for advertising at the end of the year. Interest on investment 525 had accrued but not received.

[Ans. Excess of Income over Expenditure 3,625.) (J.A.C., 2014 without adjustments)

Income and Expenditure Account in the books of

no