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Question no 14 Chapter 1 V K Publication class 12
14. From the following balances, prepare a Balance Sheet of a not-for-profit organisation as at 31st March, 2018:
| Particulars | ₹ | Particulars | ₹ |
| Cash and Bank balance | 30,000 | Subscription received in advance | 9,000 |
| Furniture | 60,000 | Outstanding Subscriptions | 24,000 |
| Investments | 90,000 | Outstanding Expenses | 27,000 |
| Equipment’s | 1,20,000 |
Balance Sheet (as at 31st March 2018)
| Liabilities | Amount | Assets | Amount | ||
|---|---|---|---|---|---|
| Capital Fund (Balancing figure) | 2,70,000 | Furniture | 60,000 | ||
| Add: Surplus | 18,000 | 2,88,000 | Investments | 90,000 | |
| Subscription Received in Advance | 9000 | Equipment | 1,20,000 | ||
| Outstanding Expenses | 27,000 | Cash and Bank balance | 30,000 | ||
| Outstanding Subscription | 24,000 | ||||
| 3,24,000 | 3,24,000 | ||||
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Also, Check out the solved question of all Chapters: –
Students may choose only one part from the Part II and Part III
Part-II
Part-III
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
Check out V. K. Publication Class 12 @ Oficial Website of V. K. Publication
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 "Question no 14 Chapter 1 V K Publication class 12", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter No 01 - Accounting for Not for Profit Organisation.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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