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Question 36 Chapter 1 of +2-A
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Table of Contents
36. Prepare Income and Expenditure Account from the following Receipts and Payments Account of Delhi Nursing Society for the year ended 31st March 2019:
| RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March 2019 | |||
| Receipts | Rs. | Payments | Rs. |
| To Balance b/d (Cash at Bank) | 2,01,000 | By Salaries of Nurses | 65,600 |
| To Subscriptions | 1,11,500 | By Board, Laundry and Domestic help | 38,000 |
| To Fees from Non-member | 27,000 | By Rent, Rates and Taxes | 20,000 |
| To Government Grant | 1,00,000 | By Cost of Car | 2,00,000 |
| To Donations For building Fund | 1,56,000 | By Expenses of Car | 84,000 |
| To Interest | 3,800 | By Drugs and Incidental Expenses | 67,000 |
| By Balance c/d (Cash at Bank) | 1,24,700 | ||
| 5,99,300 | 5,99,300 | ||
The solution of Question 36 Chapter 1 of +2-A: –
| Income and Expenditure Account (for the year ended 31st March 2019) | |||||
| Expenditure | Amount | Income | Amount | ||
| To Salaries of Nurses | 65,600 | By Subscriptions | 1,11,500 | 9,00,000 | |
| To Board, Laundry and Domestic help | 38,000 | Less: – Donation for Building | 10,000 | 10,000 | |
| To Rent, Rates and Taxes | 20,000 | By Fees from Non-member | 27,000 | ||
| To Expenses of Car | 84,000 | By Government Grant | 1,00,000 | ||
| To Drugs and Incidental Expenses | 67,000 | By Interest | 3,800 | ||
| Add: – O/S Amount | 12,800 | 79,800 | |||
| By Deficit (Balancing Figure) | 55,100 | ||||
| 2,87,400 | 2,87,400 | ||||
Note: –
- Opening and Closing balance of Cash Account are assets so it will be transferred to Balance sheets.
- If Donation is got for specific Assets then it will be treated in the Balance sheet. In this question, the donation is received for the Building Fund.
- Cost of Car is also an asset So, it will be treated in the balance sheet.
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
