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Question 4 Chapter 1 of +2-A
4. From the following information, prepare Receipts and Payments Account of Long town Sports Club for the year ending 31st March 2019
| Receipts |
Amount | Payments |
Amount |
|---|---|---|---|
| Opening Balance: | Charity Given | 10,000 | |
| Cash in Hand | 50,000 | Match Expenses | 30,000 |
| Cash at Bank | 60,000 | Salaries | 63,600 |
| Subscription Received: | Honorarium | 4,000 | |
| 2017-18 | 4,000 | 12% Investment Purchased | 60,000 |
| 2018-19 | 1,40,000 | Entrance Fees | 4,000 |
| 2019-20 | 8,000 | Interest on 12% Investments | 6,000 |
| Furniture Purchased | 70,000 | Closing Balance: | |
| General Donations | 20,000 | Cash in Hand | 24,000 |
| Donations for Tournament | 40,000 | Cash in Bank | ? |
In the Books of Evergreen Club
| Receipts and Payment A/c |
|||
| Particulars |
Amount | Particulars |
Amount |
|---|---|---|---|
| To Balance B/d | By Furniture Purchased A/c | 70,000 | |
| - Cash in Hand A/c | 50,000 | By Charity Given A/c | 10,000 |
| - Cash at Bank | 60,000 | By Match Expenses A/c | 30,000 |
| To Subscription A/c | By Salaries A/c | 63,600 | |
| 2017-18 | 4,000 | By Honorarium A/c | 4,000 |
| 2018-19 | 1,40,000 | By 12% Investment A/c | 60,000 |
| 2019-20 | 8,000 | By Balance C/d | |
| To General Donations A/c | 20,000 | -Cash in Hand | 24,000 |
| To Donations for Tournament A/c | 40,000 | -Cash in Bank | 70,400 |
| To Entrance Fees A/c | 4,000 | ||
| To Interest on Investments A/c | 6,000 | ||
| 2,78,660 | 2,78,660 | ||
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Q.No.4 | Chapter 1 – Financial Statements of Not-for-Profit Organisations | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1.
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