Question 26 Chapter 1 of +2-A
Table of Contents
26. Calculate the amount of sports material to be transferred to Income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March 2018:
| Particulars | Rs | |
| (i) | Sports Material sold during the year (Book Value Rs 50,000) | 56,000 |
| (ii) | Amount paid to creditors for Sports Materials | 91,000 |
| (iii) | Cash Purchased of sports material | 40,000 |
| (iv) | Sports Material as on 31st March 2017 | 50,000 |
| (v) | Sports Material as on 31st March 2018 | 55,000 |
| (vi) | Creditors for Sports Material as on 31st March 2017 | 37,000 |
| (vii) | Creditors for Sports Material as on 31st March 2018 | 45,000 |
The solution of Question 26 Chapter 1 of +2-A: –
| Statement Showing stationery used during the year |
||
| Particular | Details | Amount |
| Amount paid for stationery during the year ended 31st March 2019 | 91,000 | |
| Add: – Opening Stock of Sports Material | 50,000 | |
| Closing Creditors for Sports Material | 45,000 | |
| Cash Purchase of Sports Material | 40,000 | 1,35,000 |
| 2,26,000 | ||
| Less: – Closing Sports Material | 55,000 | |
| Opening Creditors for Sports Material | 37,000 | |
| Book Value of sale of Sports Material | 50,000 | |
| 1,42,000 | ||
| The amount for Medicine debited to the Income and Expenditure A/c | 84,000 | |
| Income and Expenditure Account |
|||
| Particular | Amount | Particular | Amount |
| To Sports Material Expenses | 84,000 | ||
Not-for-Profit Organisations – Meaning and Overview
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication
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