Question 5 Chapter 1 of +2-A
5. From the following particulars of Evergreen Club, prepare Receipts and Payments. Account for the year ended 31st March 2019:
| Receipts |
Amount | Payments |
Amount |
|---|---|---|---|
| Cash in Hand on 1st April 2018 | 50,000 | Newspapers and Magazines | 87,000 |
| Cash at Bank on 1st April 2018 | 3,40,000 | Sale of Old Newspapers | 12,000 |
| Subscriptions Received | 15,70,000 | Books Purchased | 3,40,000 |
| Donation Received | 2,80,000 | Sports Materials Purchased | 4,70,000 |
| Investment Purchased | 5,00,000 | Interest on Investment Received | 50,000 |
| Rent Paid | 50,000 | Honorarium to Coaches | 1,50,000 |
| General Expenses | 2,30,000 | Cash in Hand on 31st March 2019 | 30,000 |
| Postage and Stationery | 25,000 | Cash in Hand on 31st March 2019 | 30,000 |
In the Books of Evergreen Club
| Receipts and Payment A/c |
|||
| Particulars |
Amount | Particulars |
Amount |
|---|---|---|---|
| To Balance B/d | By Investment A/c | 5,00,000 | |
| - Cash in Hand A/c | 50,000 | By Rent A/c | 50,000 |
| - Cash at Bank | 3,40,000 | By General Expenses A/c | 2,30,000 |
| To Subscription A/c | 15,70,000 | By Postage and Stationery A/c | 25,000 |
| To General Donations A/c | 2,80,000 | By Newspapers and Magazines A/c | 87,000 |
| To Scrap A/c | 12,000 | By Books A/c | 3,40,000 |
| To Interest on Investments A/c | 50,000 | By Sports Materials A/c | 3,40,000 |
| By Honorarium to Coaches A/c | 1,50,000 | ||
| By Balance C/d | |||
| -Cash in Hand A/c | 30,000 | ||
| -Cash in Bank A/c | 4,20,000 | ||
| 23,02,000 | 23,02,000 | ||
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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.
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