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

Question 24 Chapter 1 of +2- Part-
Q-24 - CH-1 - Usha +2 Book 2018 - Solution

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Question 24 Chapter 1 of +2-Part-1

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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 paid1,68,000
Expenses outstanding on 1-4-1412,600
Expenses outstanding on 31-3-154,200
Prepaid expenses on 1-4-142,100
Prepaid expenses on 31-3-158,400

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 beginning2,100 
Outstanding at the end of the year4,2006,300
  1,74,300
Less: Prepaid at the end8,400 
Outstanding at the beginning of the year12,600(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

 

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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

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