T. S. Grewal Solutions for Class 12-commerce Accountancy CBSE Chapter 1: Financial Statements of Not-for-Profit Organisations

Class 12-commerce T S GREWAL Solutions Accountancy Chapter 1 - Financial Statements of Not-for-Profit Organisations

Financial Statements of Not-for-Profit Organisations Exercise 1.55

Financial Statements of Not-for-Profit Organisations Exercise 1.56

Financial Statements of Not-for-Profit Organisations Exercise 1.57

Financial Statements of Not-for-Profit Organisations Exercise 1.58

Financial Statements of Not-for-Profit Organisations Exercise 1.59

Financial Statements of Not-for-Profit Organisations Exercise 1.60

Financial Statements of Not-for-Profit Organisations Exercise 1.61

Financial Statements of Not-for-Profit Organisations Exercise 1.62

Financial Statements of Not-for-Profit Organisations Exercise 1.63

Financial Statements of Not-for-Profit Organisations Exercise 1.64

Financial Statements of Not-for-Profit Organisations Exercise 1.65

Financial Statements of Not-for-Profit Organisations Exercise 1.66

Financial Statements of Not-for-Profit Organisations Exercise 1.67

Financial Statements of Not-for-Profit Organisations Exercise 1.68

Financial Statements of Not-for-Profit Organisations Exercise 1.69

Financial Statements of Not-for-Profit Organisations Exercise 1.70

Financial Statements of Not-for-Profit Organisations Exercise 1.71

Financial Statements of Not-for-Profit Organisations Exercise 1.72

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Financial Statements of Not-for-Profit Organisations Exercise 1.55

Financial Statements of Not-for-Profit Organisations Exercise 1.56

Financial Statements of Not-for-Profit Organisations Exercise 1.57

Financial Statements of Not-for-Profit Organisations Exercise 1.58

Financial Statements of Not-for-Profit Organisations Exercise 1.59

Financial Statements of Not-for-Profit Organisations Exercise 1.60

Financial Statements of Not-for-Profit Organisations Exercise 1.61

Financial Statements of Not-for-Profit Organisations Exercise 1.62

Financial Statements of Not-for-Profit Organisations Exercise 1.63

Financial Statements of Not-for-Profit Organisations Exercise 1.64

Financial Statements of Not-for-Profit Organisations Exercise 1.65

Financial Statements of Not-for-Profit Organisations Exercise 1.66

Financial Statements of Not-for-Profit Organisations Exercise 1.67

Financial Statements of Not-for-Profit Organisations Exercise 1.68

Financial Statements of Not-for-Profit Organisations Exercise 1.69

Financial Statements of Not-for-Profit Organisations Exercise 1.70

Financial Statements of Not-for-Profit Organisations Exercise 1.71

Financial Statements of Not-for-Profit Organisations Exercise 1.72

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In the books of Railway Club Receipts and Payments Account for the year ended March 31,2019
Dr.			Cr.
Particulars	Amount (Rs.)	Particulars	Amount (Rs.)
To Balance b/d	4,390	By Electricity Charges	3,440
To Subscription	37,600	By Taxes	490
To Donations	8,000	By Salaries	21,500
To Entrance Fees	4,300	By Honorarium to Secretary	2,500
To Rent Received	5,250	By Printing and Stationery	350
To Interest on Investments	2,950	By Petty Cash Expenses	900
		By Insurance Premium Paid	310
		By Balance c/d	33,000
	62,490		62,490

In the books of Bengal Cricket Club Receipts and Payments Account for the year ended March 31,2019
Dr.			Cr.
Particulars	Amount (Rs.)	Particulars	Amount (Rs.)
To Balance b/d	-	By Rent	15,000
To Subscriptions	60,000	By Postages	1,000
To Donations	10,000	By Newspapers and Magazines	8,000
To Entrance Fees	10,000	By Investments	30,000
		By Printing and Stationery	4,000
		By Entertainment Expenses	3,000
		By Miscellaneous Expenses	2,000
		By Balance c/d	17,000
	80,000		80,000

In the books of Delhi Club Receipts and Payments Account for the year ended March 31,2019
Dr.			Cr.
Particulars	Amount (Rs.)	Particulars	Amount (Rs.)
To Donation for Building and Library	2,00,000	By Purchase of Land	10,000
To Entrance Fees	17,000	By Purchase of Furniture	1,30,000
To Subscription	19,000	By Salaries	4,800
To Lockers Rent	1,660	By Maintenance of Play Grounds	1,000
To Refreshment Receipts	16,000	By Rent	8,000
To Government Grant	25,000	By Refreshment Payments	8,000
To Bank Overdraft	83,140	By Library Books	25,000
(Balancing figure)		By Purchase of 9% Government Bonds	1,60,000
		By Term Deposit with Bank	15,000

	2,78,660		2,78,660

In the books of Longtown Sports Club Receipts and Payments Account for the year ended March 31,2019
Dr.			Cr.
Particulars	Amount (Rs.)	Particulars	Amount (Rs.)
To Balance b/d		By Furniture Purchased	70,000
Cash in Hand	50,000	By Charity Given	10,000
Cash at Bank	60,000	By Match Expenses	30,000
To Subscription:		By Salaries	63,600
2017-18	4,000	By Honorarium	4,000
2018-19	1,40,000	By 12% Investment Purchased	60,000
2019-20	8,000	By Balance c/d
To Entrance Fees	4,000	Cash in Hand	24,000
To General Donations	20,000	Cash at Bank (Balancing Figure)	70,400
To Donations for Tournament	40,000
To Interest on Investments	6,000

	3,32,000		3,32,000

In the books of Evergreen Club Receipts and Payments Account for the year ended March 31,2019
Dr.					Cr.
Receipts		Rs.	Payments		Rs.
To Balance b/d			By Investments Purchased		5,00,000
-----Cash in Hand	50,000		By Rent Paid		50,000
---- Cash at Bank	3,40,000	3,90,000	By General Expenses		2,30,000
To Subscription Received		15,70,000	By Postage and Stationery		25,000
To Donation Received		2,80,000	By Newspapers and Magazines		87,000
To Sale of Old Newspapers		12,000	By Books Purchased		3,40,000
To Interest on Investments Received		50,000	By Sports Material Purchased		4,70,000
			By Honorarium to Coacher		1,50,000
			By Balance c/d
			----Cash in Hand	30,000
			----Cash at Bank (Balancing Fig.)	4,20,000	4,50,000
		23,02,000			23,02,000

Balance Sheet (Extract)
Liabilities		Rs.	Assets	Rs.
Tournament Fund	50,000
Add : Tournament Receipts	20,000
Less : Tournament Expenses	(15,000)	55,000

Case 1

Note: Prize Fund is maintained to meet the expenses related to the Prize. Thus, Match Expenses of Rs.15,000 are not deducted from the Prize Fund. However, it will be debited to the Income and Expenditure Account as no specific fund is maintained to meet such expenses.

Case 2

Balance Sheet (Extract)
Liabilities		Rs.	Assets	Rs.
Match Fund	1,00,000		Match fund Investments	60,000
Less : Match Expenses	(35,000)
Add : Interest on Investment of Match Fund	3,000	68,000

Note: Match Fund is maintained to meet the expenses related to the Match. Therefore, Prizes paid worth Rs.19,000 are not deducted from the Match fund. However, it will be debited to the Income and Expenditure Account as no specific funds maintained for distributing the prizes. Also, the interest on investment of Match Fund will be added to Match Fund because it is an income related to this particular fund.

Balance Sheet (Extract)
Liabilities		Rs.	Assets	Rs.
Match Fund	80,000		Match Fund Investments	72,000
Add : Interest on Match Fund Investment	2,880		Match Fund Bank Balance	3,500
Less : Match Expenses	(5,500)	77,380

Balance Sheet (Extract)
Liabilities		Rs.	Assets	Rs.
Match Fund	24,000
Add : Donation For Match Fund	40,000
Add : Proceed from Sale of Tickets	15,000
Less: Match Expenses (Note)	(79,000)	NIL

Income and Expenditure Account (Extract)
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
To Match Expenses (Note)	23,000

Note: The Total Match Fund is Rs.79,000 (i.e. Rs.24,000 + Rs.40,000 +Rs.15,000) whereas the total Match Expenses amounts to Rs.1,02,000. It means that expenses of Rs.79,000 will be met through the Fund and the remaining expenses of Rs.23,000 (i.e., Rs.1,02,000 - Rs.79,000) will be debited to the Income and Expenditure Account.

Case 1

Balance Sheet (Extract) as on March 31,2019
Liabilities	Rs.	Assets	Rs.
Capital Fund	20,00,000	Pavilion Work - in - Progress	6,00,000

Case 2

Balance Sheet (Extract) as on March 31,2019
Liabilities		Rs.	Assets	Rs.
Pavilion Fund	10,00,000		Pavilion Work - in Progress	6,00,000
Less : Expenditure on Construction of Pavilion	(6,00,000)	4,00,000
Capital Fund	20,00,000
Add : Pavilion Work - in - Progress	6,00,000	26,00,000

Case 3

Balance Sheet (Extract) as on March 31,2019
Liabilities		Rs.	Assets	Rs.
Pavilion Fund	10,00,000		Pavilion Work - in Progress	6,00,000
Add: Donation	5,00,000
Less : Expenditure on Construction of Pavilion	(6,00,000)	9,00,000
Capital Fund	20,00,000
Add : Pavilion Work - in - Progress	6,00,000	26,00,000

Case 1

Income and Expenditure Account (Extract) for the year ended March 31, 2019
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
		By Entrance fees	1,00,000

Balance Sheet (Extract) as on March 31, 2019
Liabilities		Rs.	Assets	Rs.
Capital Fund	NIL
Add : Entrance Fees	1,00,000	1,00,000

Case 2

Income and Expenditure Account (Extract)
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
		By Entrance fees (1,00,000 - 25,000)	75,000

Income and Expenditure Account (Extract) for the year ended March 31, 2019
Dr.				Cr.
Expenditure	Rs.	Income		Rs.
		By Subscription	4,20,000
		Less : Outstanding for 31^st March 18	(14,000)
		Add : Outstanding for 31^st March 19	10,000	4,16,000

Income and Expenditure Account (Extract) for the year ended March 31, 2019
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
		By Subscription (450 Members × Rs.200 each)	90,000

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscription received during the year 2018 -19	4,09,000
Add : Outstanding for 2018 - 19 (Current year)	15,000
Less : Received for 2017 - 18 (Previous year)	(5,000)
Add : Advance received in 2017 - 18(Previous year)	18,000
Less : Advance received for 2019 - 20 (Next year)	(10,000)
Subscriptions to be credited to Income and Expenditure Account	4,27,000

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscription received during the year 2018- 19	3,00,000
Less : Subscription-in-Arrears for 2017 - 18	(50,000)
Add : Subscription-in-Arrears for 2018 -19	25,000
Add : Subscription-in-Advance for 2018 - 19	30,000
Less : Subscription-in advance for 2019 -20	(70,000)
Subscriptions to be credited to Income and Expenditure Account	2,35,000

Case 1

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018 - 19	2,50,000
Add : Subscriptions -in -arrears for the year 2018 - 19	6,000
Less : Subscriptions received in advance for the year 2019 - 20	(5,000)
Subscriptions Income for the year 2018 - 19	2,51,000

Case 2

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018 - 19	49,000
Add : Subscriptions collected for 2018 - 19 in 2017 - 18	3,000
Add : Subscriptions unpaid for the year 2018-19	2,000
Subscriptions Income for the year 2018-19	54,000

Case 3

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018-19	25,000
Less : Subscriptions outstanding in the beginning of 2018 - 19	(3,000)
Add : Subscriptions yet not collected for 2018 - 19	5,000
Subscriptions Income for the year 2018 - 19	27,000

Case 4

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018 - 19	80,000
Less : Subscriptions Outstanding in the beginning of 2018 - 19	(5,000)
Add : Subscriptions yet not Collected for 2018 - 19	8,000
Less : Subscriptions for 2019 - 20 received in advance	(2,000)
Subscriptions Income for the year 2018 - 19	81,000

Case 5

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018 - 19	90,000
Less : Subscriptions Outstanding at the end of 2017 - 18	(5,000)
Add : Subscriptions received in advance on March 31, 2018	3,000
Less : Subscriptions received in advance on March 31, 2019	(4,000)
Add : Subscriptions not yet collected for 2018 - 19	6,000
Subscriptions Income for the year 2018 - 19	90,000

Statement of Subscription for the year ended March 31, 2019
Particulars	Rs.
Subscriptions received during the year 2018- 19	35,400
Less : Subscriptions-in-arrears received for 2017 -18	(400)
Less : Subscriptions received-in-advance for 2019-20	(1,200)
Less : Subscriptions received-in-advance for 2019-20	(300)
Add : Subscriptions Outstanding for 2018-19	400
Add : Subscriptions received in 2017-18 for 2018-19	1,100
Subscriptions to be credited to Income and Expenditure Account	35,000

Income and Expenditure Account (Extract) For the year ended March 31, 2019
Dr.				Cr.
Expenditure	Rs.	Income		Rs.
		By Subscriptions	3,58,500
		Add: Outstanding at the end	37,500
		Add: Advance in the beginning	22,500
		Less: Outstanding in the beginning	(30,000)
		Less: Advance at the end	(13,500)	3,75,000

Balance Sheet (Extract) as on March 31,2018
Liabilities	Rs.		Rs.
Subscriptions received in Advance	2,2,500	Subscriptions Outstanding	30,000

Balance Sheet (Extract) as on March 31,2019
Liabilities	Rs.	Assets	Rs.
Subscriptions received in Advance	13,500	Subscriptions Outstanding	37,500

Subscriptions Account
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Income and Expenditure (200 members × Rs.100 each)	2,00,000	By Bank (Subscriptions Received)	2,05,000
To Outstanding Subscriptions in the beginning	30,000	By Advance Subscriptions in the beginning	14,000
To Advance Subscriptions at the end	40,000	By Outstanding Subscriptions at the end (Balancing Figure)	51,000
	2,70,000		2,70,000

Subscriptions Account for the year ended 31^st March, 2019
Dr.			Cr.
Particulars	Rs.	Particulars	Rs.
To Income and Expenditure A/c (Balancing Figure)	2,14,000	By Bank A/c (Subscription received during year)	2,10,000
To Outstanding Subscriptions in the beginning A/c	20,000	By Advance Subscriptions in the beginning A/c	13,000
To Advance Subscriptions at the end A/c	11,000	By Outstanding Subscriptions at the end A/c By Subscription Written Off (Income and Expenditure A/c)	18,000 4,000
	2,45,000		2,45,000

Statement of Medicine Consumed during the year 2018-19
Particulars	Rs.
Medicine Purchased during the year 2018 - 19	60,80,700
Add : Stock in the beginning (as on April 01, 2018)	1,75,750
Less : Stock at the end (as on March 31, 2019)	(1,44,650)

Medicine to be debited to Income and Expenditure Account	61,11,800

Statement of Medicine Consumed For the year ending March 31, 2019
Particulars	Rs.
Cash Purchases of medicine during the year	3,00,000
Add : Opening Stock of Medicines	1,00,000
Less : Closing Stock of Medicines	(1,50,000)
Add : Closing Creditors of Medicines	1,30,000
Less : Opening Creditors of Medicines	(90,000)
Medicines Consumed during the year 2018 - 19	2,90,000

a.

Statement of Stationery Consumed at the end of 31^st March 2019
Particulars	Rs.
Amount paid for Stationery during the year ended 31^st March 2019	5,400
Less : Closing Stock ( as on 31^st March 2019)	(250)
Stationery to be posted to Income and Expenditure Account	5,150

b.

Statement of Stationery Consumed at the end of 31^st March 2019
Particulars	Rs.
Payment made for Stationery during the year ended 31^st March 2019	5,400
Add : Opening Stock (as on 1^st April 2018)	1,500
Less : Closing Stock (as on 31^st March 2019)	(250)
Stationery to be posted to Income and Expenditure Account	6,650

c.

Statement of Stationery Consumed at the end of 31^st March 2019
Particulars	Rs.
Amount paid for Stationery during the year ended 31^st March 2019	5,400
Add : Opening Stock (as on 1^st April 2018)	1,500
Less : Closing Stock (as on 31^st March 2019)	(250)
Less: Creditors for Stationery in the beginning (as on 1^st April 2018)	(1,000)
Stationery to be posted to Income and Expenditure Account	5,650

Statement of Stationery Consumed for the year ended March 31, 2019
Particulars	Rs.
Amount paid for Stationery during the year 2018 - 19	1,40,000
Add : Opening Stock (as on April 01, 2018)	12,000
Less : Closing Stock (as on March 31, 2019)	(23,200)
Add : Creditors at the end ( as on March 31, 2019)	24,000
Less : Creditors in the beginning (as on April 01, 2018)	(25,600)
Rs.Stationery be shown in Income and Expenditure Account	1,27,200

Statement of Stationery for the year ended March 31,2019
Particulars	Rs.
Amount paid for Stationery during the year 2018-19	1,08,000
Add : Opening Stock (as on April 01, 2018)	30,000
Less : Closing Stock (as on March 31, 2019)	(5,000)
Less: Creditors in the beginning (as on April 01, 2018)	(20,000)
Add: Creditors at the end (as on March 31, 2019)	13,000
Add: Advance in the beginning (as on April 01, 2018)	2,000
Less: Advance at the end (as on March 31, 2019)	(3,000)
Amount to be posted to Income and Expenditure Account	1,25,000

Statement for Calculation of Sports Material transferred to Income and Expenditure Account for the year ended on 31^st March, 2018

Particulars	Amount (Rs.)
Amount paid to creditors of Sports Material Add: Creditors at the end of the period Less: Creditors at the beginning of the period Add: Cash purchases of Sports Material	91,000 45,000 (37,000) 40,000
Total Purchases	1,39,000
Less: Sale of Sports Material during the year (Book Value) Add: Opening Stock of Sports Material Less: Closing Stock of Sports Material	(50,000) 50,000 (55,000)
Amount transferred to Income and Expenditure Account	84,000

Income and Expenditure Account for the year ended March 31, 2019 (Extract)
Dr.				Cr.
Expenditure		Rs.	Income	Rs.
To Sports : Material	1,40,000
Add : Opening Stock	8,000
Less: Closing Stock	(22,000)
Less: Creditors in the beginning	(6,000)	1,20,000

Balance Sheet as on March 31, 2019 (Extract)
Liabilities	Rs.	Assets	Rs.
		Stock of Sport Materials	22,000

Income and Expenditure Account for the year ended March 31, 2019 (Extract)
Dr.				Cr.
Expenditure		Rs.	Income	Rs.
To Medicine	1,50,000
Add : Opening Stock	50,000
Less: Closing Stock	(75,000)
Less : Creditors in the beginning	(40,000)
Add : Creditors at the end	60,000	1,45,000

Balance Sheet as on March 31,2018 (Extract)
Liabilities	Rs.	Assets	Rs.
Creditors for Medicines	40,000	Stock of Medicines	50,000

Balance Sheet as on March 31,2019 (Extract)
Liabilities	Rs.	Assets	Rs.
Creditors for Medicines	60,000	Stock of Medicines	75,000

Income and Expenditure Account (Extract) for the year ended March 31, 2019
Dr.			Cr.
Expenditure		Rs.	Income	Rs.
To Payment for Sports Material	71,000		By Profit on Sale of Sports Material	6,000
Add: Opening Stock	20,000		(26,000 - 20,000)
Less: Closing Stock	(25,000)
Less: Creditors in the beginning	(7,000)
Add: Creditors at the end	15,000
Less: Book Value of Material Sold	(20,000)	54,000

Balance Sheet (Extract)
as on March 31, 2018
Liabilities	Rs.	Assets	Rs.
Creditors for Sport Materials	7,000	Stock of Sport Materials	20,000

Balance Sheet (Extract)
as on March 31, 2019
Liabilities	Rs.	Assets	Rs.
Creditors for Sport Materials	15,000	Stock of Sport Materials	25,000

Extract of Income and Expenditure Account for the year ended March 31, 2019 (Extract)
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
To Sports Material Consumed	92,800

Balance Sheet as on March 31, 2018 (Extract)
Liabilities	Rs.	Assets	Rs.
Creditors of Sports Materials	9,800	Stock of Sports Materials	6,200
		Advance paid for Sports Materials	11,000

Balance Sheet as on March 31, 2019 (Extract)
Liabilities	Rs.	Assets	Rs.
Creditors of Sports Materials	7,200	Stock of Sports Materials	4,800
		Advance paid for Sports Materials	19,000

Working Note: Calculation of Sports Material Consumed
Particulars	Rs.
Sports Material	1,02,000
Add : Opening Stock	6,200
Less : Closing Stock	(4,800)
Less: Opening Creditors	(9,800)
Add : Closing Creditors	7,200
Less : Advance at the end	(19,000)
Add : Advance in the beginning	11,000
	92,800

Furniture Account
Dr.				Cr.
Date	Particulars		Rs.	Date	Particulars	Rs.
2018				2018
Apr 01	To Balance b/d			Sep 30	By Depreciation A/c (Furniture I) (6 Months)	1,500
	(Furniture I)	30,000
	(Furniture II)	30,000	60,000	Sep 30	By Bank A/c (Sale) (Furniture I)	20,000
				Sep 30	By Income and Expenditure A/c (Loss on Sale)	8,500
				2019
				Mar 31	By Depreciation A/c (Furniture I)	3,000
				Mar 31	By Balance c/d (30,000 - 3,000)	27,000
			60,000			60,000

Income and Expenditure Account for the year ended March 31, 2019 (Extract)
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
To Depreciation on Furniture (1,500 + 3,000)	4,500
To Loss on Sale of Furniture	8,500

Working Note : Calculation of Profit or Loss on Sale of Furniture
Particulars	Rs.
Book Value of Furniture Sold as on April 01, 2018	30,000
Less : Depreciation (6 Months) (30,000 × 10% × 6/12)	(1,500)
Book Value of Furniture as on Sep 30, 2018	28,500
Less : Sale Value	(20,000)
Loss on Sale of Furniture	8,500

Furniture Account
Dr.						Cr.
Date	Particulars		Rs.	Date	Particulars		Rs.
2018				2018
Apr 01	To Balance b/d			Dec 31	By Depreciation A/c
	(Furniture I)	2,00,000			(Furniture II) (9 Months)		1,500
	(Furniture II)	20,000	2,20,000	Dec 31	By Bank A/c
Oct 01	To Bank A/c				(Furniture II) (Sale)		14,800
	(Furniture III)		1,50,000	Dec 31	By Income and Expenditure A/c
					(Loss on Sale)		3,700
				2019
				Mar 31	By Depreciation A/c
					(Furniture I)	20,000
					(Furniture III) (6 Months)	7,500	27,500
				Mar 31	By Balance c/d
					(Furniture I)	1,80,000
					(Furniture III)	1,42,500	3,22,500
			3,70,000				3,70,000

Working Note : Calculation of Profit or Loss on Sale of Furniture
Particulars	Rs.
Book Value of Furniture I as on April 01, 2018	20,000
Less : Depreciation (9 months) (20,000 × 10% × 9/12)	(1,500)
Book Value on December 31, 2018	18,500
Less: Loss on Sale of Furniture (18,500 × 20%)	(3,700)
Sale value of Furniture	14,800

Statement of Salaries for the year ended March 31, 2019
Particulars	Rs.
Amount paid for Salaries	2,04,000
Add : Prepaid Salaries as on March 31, 2018	24,000
Less : Prepaid Salaries as on March 31, 2019	(12,000)
Less : Outstanding Salaries as on March 31, 2018	(18,000)
Add : Outstanding Salaries as on March 31, 2019	15,000
Salaries chargeable to Income and Expenditure Account	2,13,000

Income and Expenditure Account (Extract)
Dr.				Cr.
Expenditure	Rs.	Income		Rs.
		By Locker Rent Received	52,000
		Add : Outstanding at the end	6,300
		Add : Advance in the beginning	3,000
		Less : Outstanding in the beginning	(4,600)
		Less : Advance at the end	(4,000)	52,700

Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure	Rs.	Income	Rs.
To Salaries	4,80,000	By Subscriptions	9,00,000
To Rent	50,000	By Donation	10,000
To Stationery	20,000
To Loss on Sale of Old Furniture	10,000
To Surplus (Balancing Fig.)	3,50,000
	9,10,000		9,10,000

In the books of Delhi Nursing Society Income and Expenditure Account for the year ended 31^st March 2019
Dr.					Cr.
Expenditure		Rs.	Income		Rs.
To Salaries of Nurses		65,600	By Subscriptions	1,11,500
To Board, Laundry and Domestic Help		38,000	Less : Donation for Building	(10,000)	1,01,500
To Rent Rates and Taxes		20,000	By Fess from Non-members		27,000
To Expenses of Car		84,000	By Municipal Grant		1,00,000
To Drugs and Incidental	67,000		Interest		3,800
Add : Outstanding Expenses	12,800	79,800	By Deficit (Balancing Fig.)		55,100
		2,87,400			2,87,400

Books of You Bee Forty Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.					Cr.
Expenditure		Rs.	Income		Rs.
To Salaries and Wages	1,60,000		By Subscriptions	3,50,000
Add : Outstanding	40,000	2,00,000	Add : Outstanding for 2018-19	55,000	4,05,000
To Office Expenses		35,000	By Donations		50,000
To Telephone Charges		24,000	By Entrance Fees		80,000
To Electricity Charges		32,000
To Travelling Expenses		65,000
To Depreciation on Sports
Equipments (34,000 × 25%)		85,000
To Surplus (Balancing Fig.)		94,000
		5,35,000			5,35,000

Books of Jaipur Sports Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.					Cr.
Expenditure		Rs.	Income		Rs.
To Rent	60,000		By Entrance Fees (2018 - 19)		50,000
Less : For 2017 - 18	(15,000)	45,000	Subscription 2018 - 19	90,000
			Add : Outstanding for 2018 -19 (90,000 × 10/9)	10,000	1,00,000
To Insurance Premium	60,000		By Donations		1,20,000
Less : For 2019 - 20	(15,000)	45,000	By Interest on Fixed Deposit	2,400
To Printing and Stationery		20,000	Add : Accrued Interest	2,400	4,800
To Loss on Sale of Sports Material (1,200 - 500)		700	By Sale of Old Sports Materials		300
To Surplus (Balancing Fig.)		1,70,600	By Locker Rent	6,800
			Less : For 2017 - 18	(600)	6,200
		2,81,300			2,81,300

Working Note :

Calculation of Interest Accrued on investment

Interest on Investments for 6 Months (1,20,000 × 8% × 6/12)	4,800
Less : Interest Received	(2,400)
Amount of Accrued Interest on Investments	2,400

Income and Expenditure Account for the year ending March 31, 2019
Dr.			Cr.
Expenditure	Amount (Rs.)	Income	Amount (Rs.)
		Interest on General Fund Investments	80,000

Balance Sheet as on March 31, 2019
Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Sports Fund	4,00,000	Sports Fund Investment	3,50,000
General Fund	8,00,000	General Fund Investment	8,00,000

Working Notes:

WN1: Calculation of Sports Fund Balance

Particulars	Amount (Rs.)
Sports Fund as on April 01, 2018	3,50,000
Interest on Sports Fund Investments	40,000
Donation for Sports Fund	1,50,000
Sports Prizes Awarded	(1,00,000)
Expenses on Sports Events	(40,000)
Balance of Sports Fund	4,00,000

In the books of Youth Club Income and Expenditure Account for the year ended 31^st March 2018
Dr.				Cr.
Expenditure	Rs.	Income		Rs.
To Salaries	31,500	By Subscriptions	60,000
To Postage To Rent To Printing and Stationery	1,250 9,000 14,000	Add: Outstanding By Entrance Fees By Sale of Old Magazines	15,000	75,000 1,100 450
To Consumption of Sports Material	10,000	By Interest on Investment		3,500
To Depreciation on Furniture To Miscellaneous Expenses To Surplus	1,000 3,100 10,200
	80,050			80,050

Working Notes:

i.

ii.

iii.

In the books of Delhi Football Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.					Cr.
Expenditure		Rs.	Income		Rs.
To Salaries	70,000		By Subscriptions (550 members × Rs.100 each)		55,000
Add : Outstanding at the end	5,000		By Entrance Fees		50,000
Less : Outstanding in the beginning	(10,000)	65,000	By General Donation (5,00,000 × 10%)		50,000
To Insurance		3,500	By Locker Rent		4,000
To Sundry Expenses		4,700	By Profit on Sale of Furniture(1,00,000 - 80,000)		20,000
To Match Expenses	90,000		By Interest on Investment	10,000
Less : Match Fund	(80,000)	10,000	Add : Accrued Interest	2,000	12,000
To Surplus (Balancing Fig.)		1,07,800
		1,91,000			1,91,000

Calculation of Interest Accrued on Investment

Interest on Investment for 9 Months (1,60,000 × 10% × 9/12)	12,000
Less : Interest Received	(10,000)
Amount of Accrued Interest on Investment	2,000

Books of Royal Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.					Cr.
Expenditure		Rs.	Income		Rs.
To Rent and Taxes	16,800		By Entrance Fees		25,500
Less : Outstanding Rent in the beginning	(6,000)		By Subscriptions	1,60,000
Add: Outstanding Rent at the end	6,000	16,800	Less : Outstanding in the beginning	(3,500)
			Add : Outstanding at the end	4,500	1,61,000
To Wages		24,500	By Donations		16,500
To Lighting Charge		7,200	By Profit on Entertainment		5,600
To Lecturer's Fee		43,500	By Interest Accrued on Fixed Deposits (80,000 × 3% × 6/12)		1,200
To Office Expenses		45,000
To Depreciation on :
----Books	11,300
----Furniture	5,000	16,300
To Surplus (Balancing Fig.)		56,500
		2,09,800			2,09,800

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Outstanding Rent	6,000	Books	2,00,000
Capital Fund (Balancing Fig.)	3,14,400	Furniture	85,000
		Subscriptions Outstanding	3,500
		Cash and Bank	31,900

	3,20,400		3,20,400

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Rent Outstanding		6,000	Subscriptions Outstanding		4,500
Capital Fund	3,14,400		Books	2,00,000
Add : Life Membership Fees	25,000		Add : Purchases	21,300
Add : Surplus	56,500	3,95,900	Less : Deprecation	(11,300)	2,10,000
			Furniture	85000
			Less : Depreciation	(5,000)	80,000
			Fixed Deposits	80,000
			Add : Accrued interest	1,200	81,200
			Cash at Bank		24,200
			Cash in hand		2,000
		4,01,900			4,01,900

In the books of New City Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.				Cr.
Expenditure		Rs.	Income	Rs.
To Salaries	28,000		By Subscription (50 members × Rs.500 each)	25,000
Add : Outstanding for 2019	2,000		By Rent Received from the use of hall	14,000
Less: Outstanding for 2018	(6,000)	24,000	By Profit from Entertainment	8,000
To General Expenses		6,000	By Sale of Old Newspapers	2,000
To Electricity Charges		4,000
To Newspaper		8,000
To Depreciation on Furniture (20,000 × 10%)		2,000
To Surplus (Balancing Fig.)		5,000

		49,000		49,000

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Salaries Outstanding	6,000	Subscriptions Outstanding	6,000
Capital Fund	2,47,000	Building	2,00,000
(Balancing Fig.)		Furniture	20,000
		Books	20,000
		Cash at Bank	7,000
	2,53,000		2,53,000

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Advance Subscription		4,000	Subscription Outstanding
Salaries Outstanding		2,000	For 2018-19 (25,000 - 20,000)	5,000
Capital Fund	2,47,000		For 2017-18 (6,000 - 5,000)	1,000	6,000
Add : Surplus	5,000	2,52,000	Building		2,00,000
			Furniture	20,000
			Less : 10 % Depreciation	(2,000)	18,000
			Books	20,000
			Add : Purchases	10,000	30,000
			Cash and Bank		4,000
		2,58,000			2,58,000

Income and Expenditure Account for the year ending March 31, 2019
Dr.					Cr.
Expenditure		Amount (Rs.)	Income		Amount (Rs.)
Electricity		30,000	Subscription	2,65,000
Newspaper		18,500	Add: Current O/s	7,000	2,72,000
Loss on Sale of Furniture		13,000	Government Grant		1,20,000
Salary	36,000		Sale of Old News Paper		12,500
Add: Outstanding	6,000	42,000	Interest on Fixed Deposit		9,000
Rent	65,000		(18,000 @ 10% for 6 months)
Less: Prepaid	5,000	60,000
General Expenses		32,000
Postage Charges		3,000
Surplus		2,15,000
		4,13,500			4,13,500

Balance Sheet as on March 31, 2019
Liabilities		Amount (Rs.)	Assets		Amount (Rs.)
Capital Fund			Books	50,000
Opening Balance	3,85,500		Add: Purchases	70,000	1,20,000
Add: Surplus	2,15,000	6,00,500	Subscriptions Outstanding		15,000
Subscription Received in Advance		5,000	Furniture	1,20,000
Salary Outstanding		6,000	Add: Purchases	1,05,000
			Less: Sale	50,000	1,75,000
			Fixed Deposit	1,80,000
			Add: Accrued Interest	4,500	1,84,500
			Prepaid Rent		5,000
			Cash		30,000
			Bank		82,000
		6,11,500			6,11,500

Working Notes

WN1: Ascertainment of Capital Fund

Balance Sheet as on March 31, 2019
Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Capital Fund	3,85,500	Subscriptions Outstanding	20,000
		Books	50,000
		Furniture	1,20,000
		Cash	40,000
		Bank	1,55,500
	3,85,500		3,85,500

Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Loss on Sale of Sports Material (10,000 - 6,000)		4,000	By Subscription	1,81,000
To Wages and Salaries	60,000		Add: Subscriptions Outstanding for 2018-19	5,500
Add: Outstanding in 2018-19	6,000		Less: Subscription Outstanding for 2017-18	(8,000)
Less: Outstanding in 2017-18	(11,000)	55,000	Add: Advance received for 2018-19	6,000
To Stationery		15,000	Less: Advance Received for 2019-20	(4,000)	1,80,500
To Audit Fee		2,000	By Sale of Old Materials		1,500
To Expenses on Terms		65,000	By Entrance Fees		2,000
To Depreciation on Billiards Tables (60,000×10%)		6,000	By Interest accrued on Investments (40,000×5%×6/12)		1,000
To Consumption of Sports Equipment (50,000 + 20,000 - 10,000 - 45,000)		15,000
To Upkeep of Grounds		10,000
To Surplus (Balancing Fig.)		13,000
		1,85,000			1,85,000

Balance Sheet
as on 31^st March 2019
Liabilities		Rs.	Assets		`
Capital Fund	2,00,000		Subscriptions Outstanding		5,500
Add: Surplus	13,000		Sports Equipment	50,000
Add: Life Membership Fees	50,000	2,63,000	Add: Purchases	20,000
Tournament Fund	60,000		Less: Book Value of Sold Equipment	(10,000)
Add: Donations	20,000	80,000		60,000
Salaries Unpaid		6,000	Less: Consumption	(15,000)	45,000
Subscriptions in Advance		4,000	Grounds		1,20,000
			Billiards Tables	60,000
			Less: 10% Depreciation	(6,000)	54,000
			Cash and Bank Balances		87,500
			Investments	40,000
			Add: Accrued interest	1,000	41,000
		3,53,000			3,53,000

*as per the book, the value of surplus is Rs 78,000 against our computed value of Rs 13,000.

In the books of Ganesh Cricket Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.		Cr.
Expenditure	Rs.	Income		Rs.
To Upkeep of Fields	20,000	By Members' Subscriptions	50,000
To Rates and Insurance	2,000	Add: Outstanding for 2018-19	7,500
To Telephone	500	Less: Outstanding for 2017-18	(5,000)	52,500
To Printing and Stationery Consumed	750	By Admission Fee		3,000
To General Charges	500	By Sale of Old Bats, etc.		500
To Secretary's Honorarium	2,000	By Hire of Ground		3,000
To Depreciation on Bats, Balls, etc. (22,000×50%)	11,000	By Donations		1,00,000
To Surplus (Balance Fig.)	1,22,250
	1,59,000			1,59,000

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Capital Fund (Balancing Fig.)	52,000	Stock of Bats and Balls	15,000
		Printing and Stationery	2,000
		Subscriptions Outstanding	5,000
		Cash at Bank	30,000
	52,000		52,000

Balance Sheet
as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Subscription for Tournament	10,000		Subscriptions		7,500
Less: Tournament Expenses	(7,000)	3,000	Outstanding Bats and Balls	15,000
Capital Fund	52,000		Add: Purchases	7,000
Add: Surplus	1,22,250	1,74,250		22,000
			Less: 50% Written-off	(11,000)	11,000
			Printing and Stationery	2,000
			Add: Purchases	1,000
				3,000
			Less: 25% Written-off	(750)	2,250
			Bank		1,56,500
		1,77,250			1,77,250

In the books of Mumbai Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Salary		20,000	By Subscriptions	1,20,000
To Repair Expenses		5,000	Add: Outstanding	9,000
To Miscellaneous Expenses	5,000		Less: Advance	(3,500)	1,25,500
Less: Prepaid	(900)	4,100	By Entrance Fee		10,000
To Insurance Premium	2,000		By Interest on Investment	1,000
Add: Outstanding	400	2,400	Add: Accrued interest (60,000×8%×5/12)	2,000	3,000
To Paper, Ink, etc.		1,500	By Donation		50,000
To Surplus (Balancing Figure)		1,66,500	By Interest received from Bank		4,000
			By Sale of Old Newspapers		1,500
			By Receipt from Sale of Drama Tickets	10,500
			Less: Drama Expenses	(5,000)	5,500
		1,99,500			1,99,500

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Creditors for Billiard Table	80,000	Billiard Table	3,00,000
Capital Fund (Balancing Fig.)	3,60,000	Cash in hand	40,000
		Cash at bank	1,00,000
	4,40,000		4,40,000

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Advance Subscriptions		3,500	Subscriptions Outstanding		9,000
Insurance Premium Outstanding		400	Prepaid Miscellaneous Expenses		900
Capital Fund	3,60,000		Investments	60,000
Add: Surplus	1,66,500	5,26,500	Add: Accrued Interest	2,000	62,000
			Billiard Table		3,00,000
			Furniture		60,000
			Cash in hand		26,500
			Cash at bank		72,000
		5,30,400			5,30,400

Income and Expenditure Account for the year ending March 31, 2019
Dr.				Cr.
Expenditure		Amount (Rs.)	Income	Amount (Rs.)
Charity		1,15,000	Subscription	4,28,000
Advertisement	45,000		Donation	90,000
Add: Outstanding	10,000	55,000	Sale of Old Newspapers	2,000
Insurance	20,000		Interest on Investments	56,000
Less: Prepaid	5,000	15,000	(45,000 + 11,000)
Salary	60,000
Add: Outstanding	9,000	69,000
Rent	32,000
Add: Outstanding	6,000	38,000
Printing		6,000
Postage		3,000
Surplus		2,75,000
		5,76,000		5,76,000

Balance Sheet as on March 31, 2019
Liabilities		Amount (Rs.)	Assets		Amount (Rs.)
Capital Fund			Cash		99,000
Opening Balance	2,41,000		Bank		1,60,000
Add: Legacy	1,80,000		Prepaid Insurance		5,000
Add: Surplus	2,75,000	6,96,000	Furniture		2,16,000
Rent Outstanding		6,000	Investment	2,30,000
			Add: Accrued Interest	11,000	2,41,000



		7,21,000			7,21,000

Working Notes

WN1: Ascertainment of Capital Fund

Balance Sheet as on March 31, 2018
Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Capital Fund	2,41,000	Cash	1,15,000
		Bank	1,26,000
	2,41,000		2,41,000

In the books of Mayur Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Municipal Taxes	4,000		By Subscription (500members × Rs.500)		2,50,000
Add: Prepaid in 2017-18	1,000		By Interest Accrued on Investment		5,000
Less: Prepaid in 2018-19	(1,000)	4,000
To Salaries	60,000		By Profit from Drama:
Add: Outstanding	5,000	65,000	Proceeds	95,000
To Expenses		7,500	Less: Drama Expenses	(45,000)	50,000
To Newspapers		15,000	By Sale of Waste Paper		4,500
To Charity		35,000	By Donations		54,000
To Electricity Charges		14,500
To Surplus (Balancing Fig.)		2,22,500
		3,63,500			3,63,500

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
		Subscription Outstanding (4,000+5,000)	9,000
Capital Fund (Balancing Fig.)	6,12,500	Municipal Taxes Prepaid	1,000
		Building	5,00,000
		Cash and Bank	1,02,500
	6,12,500		6,12,500

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Advance Subscriptions		6,000	Subscriptions Outstanding
Salaries Outstanding		5,000	2018-19 (2,50,000-2,05,000)	4,5000
Capital Fund	6,12,500		2017-18	5,000	50,000
Add: Surplus	2,22,500	8,35,000	Prepaid Municipal Taxes		1,000
			Building		5,00,000
			Investments	2,00,000
			Add: Accrued Interest	5,000	2,05,000
			Cash at Bank		90,000
		8,46,000			8,46,000

Books of Kapil Dev Club Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Salaries	3,30,000		By Subscription	6,60,000
Add: Outstanding	30,000	3,60,000	Add: Advance in the beginning	20,000	6,80,000
To Sports Materials Consumed		50,000	By Interest on Investments		40,000
To Surplus (excess of income over expenditure)		3,10,000
		7,20,000			7,20,000

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets	Rs.
Outstanding Salaries		30,000	Investments	5,00,000
Capital Fund	9,70,000		Stock of sports Material	6,50,000
Add: Surplus	3,10,000	12,80,000	Cash	1,60,000
		13,10,000		13,10,000

Working Notes:

1.

Calculation of amount of Sports Material Consumed
Sports Material Purchased	4,00,000
Add: Opening Stock of Sports Material	3,00,000
Less: Closing Stock of Sports Material	(6,50,000)
Amount of Sports Material Consumed	50,000

2.

Calculation of Capital Fund

Balance Sheet as on 1^st April 2018
Liabilities	Rs.	Assets	Rs.
Advance Subscription	20,000	Investments	5,00,000
Capital Fund (Balancing Fig.)	9,70,000	Stock of sports Material	3,00,000
		Cash	1,90,000
	9,90,000		9,90,000

3.

Calculation of Outstanding Salaries

Outstanding Salaries = 3,30,000 = Rs.30,000

4.

Calculation of Amount of Investments

In the books of Delhi Medical Society Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Rent	16,800		By Entrance Fees		5,500
Add: Advance in the beginning	4,200		By Subscriptions	1,80,000
Less: Advance at the end	(4,200)	16,800	Add: Arrears at the end	5,500
To Wages		24,500	Less: Arrears in the beginning	(3,500)	1,82,000
To Lighting Charges		7,200	By Donations		16,500
To Office Expenses		45,000	By Interest on Deposits	2,400
To Depreciation on:			Add: Accrued Interest	2,400	4,800
----Furniture	8,500		By Profit from Tournament:
----Books	22,480	30,980	----Proceeds	23,200
To Surplus (Balancing Fig.)		87,320	----Less: Expenses	(20,200)	3,000
		2,11,800			2,11,800

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Capital Fund (Balancing Fig.)	3,24,600	Advance Rent	4,200
		Subscriptions-in-Arrears	3,500
		Books	2,00,000
		Furniture	85,000
		Cash and Bank	31,900
	3,24,600		3,24,600

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
			Subscription-in-Arrears		5,500
Capital Fund	3,24,600		Advance Rent		4,200
Add: Surplus	87,320		Books	2,00,000
Add: Life Membership	25,000	4,36,920	Add: Purchase	24,800
Polio Eradication Fund				2,24,800
Govt. Grant	2,00,000		Less: 10% Depreciation	(22,480)	2,02,320
Less: Medicines	1,00,000		Furniture	85,000
Less: Salaries to Doctors	80,000	20,000	Less: 10% Depreciation	(8,500)	76,500
			Cash in Hand		26,000
			Cash at Bank		20,000
			8% Fixed Deposit	1,20,000
			Add: Accrued Interest	2,400	1,22,400
		4,56,920			4,56,920

Working Note:

Calculation of Interest Accrued on Fixed Deposits
Interest on Fixed Deposits (1,20,000 × 8% × 6/12)	4,800
Less: Interest Received	(2,400)
Amount of Interest Accrued on Fixed Deposits	2,400

Income and Expenditure Account for the year ending March 31, 2019
Dr.					Cr.
Expenditure		Amount (Rs.)	Income		Amount (Rs.)
Postage	1,000		Entrance Fee		3,200
Add: Outstanding	300		Locker Rent		1,200
Less: Closing	200	1,100	Profit from Entertainment		3,000
Rent	18,000		Subscription	40,000
Add: Current O/s	1,500		Add: Current O/s	2,300
Less: Previous O/s	1,500	18,000	Less: Previous O/s	1,200	41,100
Interest		2,000	Deficit		6,100
Salaries		24,000
Depreciation on Furniture		2,500
Wages		7,000

		54,600			54,600

Balance Sheet as on March 31, 2019
Liabilities	Amount (Rs.)	Assets		Amount (Rs.)
Outstanding Rent	1,500	Cash in Hand		4,000
10% Loan	20,000	Billiards Table		14,000
Donation for Building	23,000	Subscription Outstanding		2,300
Life Membership Fees	7,000	Stock of Postage Stamps		200
		Furniture	15,000
		Add: Purchases	10,000
		Less: Depreciation	2,500	22,500
		Capital Fund
		Opening Balance	2,400
		Add: Deficit	6,100
				8,500
	51,500			51,500

Working Notes

WN1: Ascertainment of Capital Fund

Balance Sheet as on March 31, 2018
Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Outstanding Rent	1,500	Furniture	15,000
10% Loan	20,000	Subscription Outstanding	1,200
		Stock of Stationery	300
		Cash in Hand	2,600
		Capital Fund (Deficit)	2,400
	21,500		21,500

Books of RamaKrishna Mission Charitable Hospital Income and Expenditure Account for the year ended 31^st March 2019
Dr.			Cr.
Expenditure		Rs.	Income		Rs.
To Medicine	3,05,900		By Subscription	4,79,960
Add: Opening Stock	88,100		Add: Due for 2018-19	2,800
Less: Closing Stock	(97,400)	2,96,600	Less: Due for 2017-18	(2,400)
To Doctor's Honorarium		90,000	Less: Advance for 2019-20	(1,000)
To Salaries		2,75,000	Add: Advance for 2018-19	640	4,80,000
To Petty Expenses		4,610	By Donations		1,45,000
To Expenses on Charity Show		7,500	By Interest on Investments		70,000
To Depreciation on Equipments		46,000	By Proceeds from Charity Show		1,04,500
To Depreciation on Building		20,000
To Surplus (Balancing Fig.)		59,790
		7,99,500			7,99,500

Balance Sheet as on 01^st April 2018
Liabilities	Rs.	Assets	Rs.
Advance Subscription	640	Subscription Due	2,400
Capital Fund (Balancing Fig.)	17,73,160	Stock of Medicines	88,100
		Equipments	2,12,000
		Building	4,00,000
		Cash in Hand	71,300
		Investments	10,00,000
	17,73,800		17,73,800

Balance Sheet as on 31^st March 2019
Liabilities		Rs.	Assets		Rs.
Advance Subscription		1,000	Subscription Due		2, 800
Capital Fund	17,73,160		Stock of Medicines		97,400
Add: Surplus	59,790	18,32,950	Equipments	2,12,000
			Add: Purchase	1,50,000
				3,62,000
			Less: Depreciation	(46,000)	3,16,000
			Building	4,00,000
			Less: Depreciation	(20,000)	3,80,000
			Cash in Hand		37,750
			7% Investments		10,00,000
		18,33,950			18,33,950

Working Note:

Calculation of Amount of Investments

Income and Expenditure Account for the year ending March 31, 2019
Dr.					Cr.
Expenditure		Amount (Rs.)	Income		Amount (Rs.)
Petty Expenses		5,000	Government Grant		1,50,000
Electricity Expenses	95,500		Donation		30,000
Add: Outstanding	12,500	1,08,000	Sale of Old Newspapers		3,000
Insurance	75,000		Proceeds of Charity Show (Net)		36,000
Add: Previous	7,000		Sundries Income		4,000
Less: Current	3,000	79,000	Interest on Investments		70,000
Salary	1,25,000		Subscription	8,17,500
Add: Current O/s	18,000		Add: Current O/s	25,000
Less: Previous O/s	12,000	1,31,000	Add: Previous Adv.	17,500
Stationery		32,500	Less: Previous O/s	37,500
Lectures Fees		1,65,000	Less: Current Adv.	10,000	8,12,500
Honorarium to Secretary		1,20,000
Newspaper		10,000
Depreciation on Equipment		54,000
Depreciation on Building		60,000
Surplus		3,41,000
		11,05,500			11,05,500

Balance Sheet as on March 31, 2019
Liabilities		Amount (Rs.)	Assets		Amount (Rs.)
Capital Fund			Cash		20,500
Opening Balance	22,66,000		Bank		2,50,000
Add: Surplus	3,41,000	26,07,000	Investments		7,00,000
Outstanding Salary		18,000	Equipment	2,56,000
Subscription Received in Advance		10,000	Add: Purchases	3,00,000
Electricity Charges Outstanding		12,500	Less: Depreciation	54,000	5,02,000
			Prepaid Insurance		3,000
			Subscription Outstanding		25,000
			Building	12,00,000
			Less: Depreciation	60,000	11,40,000
			Stock of Stationery		7,000
		26,47,500			26,47,500

Working Notes

WN1: Ascertainment of Capital Fund

Balance Sheet as on March 31, 2018
Liabilities	Amount (Rs.)	Assets	Amount (Rs.)
Outstanding Salary	12,000	Prepaid Insurance	7,000
Subscription Received in Advance	17,500	Subscription Outstanding	37,500
Capital Fund	22,66,000	Stock of Stationery	22,500
		Equipment	2,56,000
		Building	12,00,000
		Cash	22,500
		Bank	50,000
		Investments	7,00,000
	22,95,500		22,95,500

Balance Sheet (Extract)

Liabilities

Assets

Prize Fund

Less : Prize Paid