Question

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Illustration 1.
From the information given below, prepare Receipts and Payments Account of Friends Club,
Delhi, for the year ended 31st March, 2020:
Cash Balance on 1st April, 2019 44,000; Subscriptions 3,76,000; Donations 80,000; Entrance
Fees 43,000; Rent Realised from Club Hall 52,500; Electricity Charges 34,400; Taxes
5,000; Salaries and Wages 2,15,000; Honorarium to Secretary *25,000; Interest Received
on Investments 29,500; Printing and Stationery * 3,500; Petty Expenses *9,000; Insurance
Premium Paid * 3,100.
Solution:
Friends Club, Delhi
RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2020
Cr.
Receipts
Payments
To Balance b/d (Cash)
44,000 By Electricity Charges
34,400
To Subscriptions
3,76,000
By Taxes
5,000
To Donations
80,000 By Salaries and Wages
2,15,000
To Entrance Fees
43,000 By Honorarium to Secretary
25,000
To Rent Realised from Club Hall
52,500 By Printing and Stationery
3,500
To Interest on Investments
29,500 By Petty Expenses
9,000
By Insurance Premium
3,100
By Balance cld:
Cash in Hand (Balancing Figure)
3,30,000
6,25,000
6,25,000
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Answer 1

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