Question 24 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 24 Chapter 1 of +2- Part-

Question 24 Chapter 1 of +2-Part-1

24. (Treatment of Expenses) Find out the expenses to be charged to the Income and Expenditure account for the year ended 31-3-15 of Hockey Club Jalandhar :

Particulars  Rs.
Actual expenses paid 1,68,000
Expenses outstanding on 1-4-14 12,600
Expenses outstanding on 31-3-15 4,200
Prepaid expenses on 1-4-14 2,100
Prepaid expenses on 31-3-15 8,400

The solution of Question 24 Chapter 1 of +2 Part-1 : – 

Calculation of expenses chargeable to Income and Expenditure account
Particulars
Amount
Actual Expenses paid during the year   1,68,000
Add: Prepaid in the beginning 2,100  
Outstanding at the end of the year 4,200 6,300
    1,74,300
Less: Prepaid at the end 8,400  
Outstanding at the beginning of the year 12,600 (21,000)
Expenses chargeable to Income and Expenditure Account   1,53,300

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

 

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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