Question 33 Chapter 1 of +2- Part-

Question 33 Chapter 1 of +2-Part-1

33. (Trading and Profit & Loss/Income & Expenditure Account) Ambala Charitable Hospital runs a Chemist Shop along with the hospital. You are required to prepare Trading and Profit & Loss Account for the shop and Income & Expenditure Account for the hospital for the year ended 31-3-15.

 Rs Rs
Stock of medicines opening9,000Room charges from patients6,000
Stock of medicines closing3,000X ray and ultrasound charges9,000
Purchase of medicine12,000Donations for hospital building12,000
Carriage2,000General donations4,000
Rent paid for the shop5,000Rent paid for hospital6,500
Sales of medicine21,000Salaries: 
Operation fees7,000Shop4,500
Doctors’ fees collected12,000Hospital7,500
Expenses on blood donation camp2,500Medical Camp expenses3,000

The solution of Question 33 Chapter 1 of +2 Part-1: – 

Trading and Profit and Loss account For the year ending 31st March 2015
Particulars
AmountParticulars
Amount
To Opening stock of medicines 9,000By Sales of medicine21,000
To Purchase of medicine 12,000By Stock of medicines closing3,000
To Carriage 2,000By Trading loss c/d8,500
To Shop rent 5,000  
To Salaries 4,500  
  32,500 32,500
Income & Expenditure Account For the year ending 31st March 2015
Expenditure
AmountIncome
Amount
To loss on medicine shop 8,500By Operation fees7,000
To rent 6,500By Doctors’ fees collected12,000
To salaries 7,500By Room charges from patients6,000
To Expenses on blood donation camp 2,500By X-ray and ultrasound charges9,000
To Medical Camp expenses 3,000By General donations9,000
To Excess of Income over expenditure (Surplus) 10,000  
  38,000 38,000

 

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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

2 Book 1 min - Question 33 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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