un of income and Expenditure Account
40. Prepare Income and Expenditure Account for the year ended 31st March 2021 from the following:
Dr.
RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2021
Receipts
Payments
To Balance b/d (Cash)
To Subscriptions
To Sale of Investments
To Sale of Old Furniture
(Book Value 40,000)
To Donations
1.80.000
9.00.000
2.00,000
30,000
By Salaries
By Rent
By Stationery
By Defence Bonds
By Furniture
By Bicycles
By Balance c/d (Cash)
4,80,000
50,000
20.000
3,00.000
2,00,000
30,000
2,40,000
10,000
13,20,000
13,20,000
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Answer:
2021
Receipts
Payments
To Balance b/d (Cash)
To Subscriptions
To Sale of Investments
To Sale of Old Furniture
(Book Value 40,000)
To Donations
1.80.000
9.00.000
2.00,000
30,000
By Salaries
By Rent
By Stationery
By Defence Bonds
By Furniture
By Bicycles
By Balance c/d (Cash)
4,80,000
50,000
20.000
3,00.000
2,00,000
30,000
2,40,000
10,000
13,20,000
13,20,000
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