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Question no 9 Chapter 1 V K Publication class 12

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Question no 9 Chapter 1 V K Publication class 12

9. The following particulars relate to the Haryana Literary Society for the year ended 31st March, 2018:

Subscriptions received Rs.1,100; Interest received on investments ₹ 380.
Net Proceeds received from lectures ₹ 2,320; Rent paid for the use of Hall ₹ 210.
Petty cash payment ₹ 100; Advertising expenses paid ₹ 210; Printing expenses paid ₹ 120.
The society holds ten 4% Debentures of ₹ 1,000 each. As on 31st March. the society owed ₹ 80 for rent of hall and ₹ 90 for printing. Etc.
Prepare the Literary Society's Income and Expenditure Account for the year March 2018.

The Solution of Question No 9 Chapter No 01 - V K Publications Class 12

Haryana Literary Society Income and Expenditure Account For the year ended 3 1st March, 2018

Expenditures		Amount	Incomes	Amount
To Rent	210		By Subscriptions	1,100
Add: Outstanding Rent	80		By Interest on Investment	380
To Petty Cash Expenses		100	By Net proceeds from Lectures	2,320
To Advertisement Expenses		210	By Interest on Debentures (Accrued) 10,000 x 4/100	400
To Printing Expenses	120
Add: Outstanding Printing Charges	90	210
To Surplus, i.e., excess of income over expenditure		3,390
		4,200		4,200