# Question 39 Chapter 1 – Unimax Class 12 Part 1 – 2021

Question 39 Chapter 1 – Unimax Class 12 Part 1

39. The following is the receipt and Payment account of the ‘Bhartiya Gymkhana Club’ for the year ending 31st December, 2021 :

 Receipts Amount Payments Amount To opening balance : By Honorarium to secretary 4800 Cash 170 By Rates & taxes 1260 Bank (as per Pass book) 8210 8380 By Printing and Stationary 470 To Subscriptions 10710 By drama expenses 1530 To receipt from fetes 2400 By Groundmen’s wages 840 To proceeds of Drama tickets 4270 By Expenditure on fetes 2390 To Bank interest 230 By Payment for bar purchases 5770 To bar takings 7450 By Repairs etc. 320 To Cash overspent 20 By new car less sale proceeds of old car Rs. 3,000 12600 By Bank balance (as per pass book) 3480 33,460 33,460

You are given the following additional information :

 Particulars 31.12.2020 31.12.2021 (1) Subscription due 1200 980 (2) Unpresented Cheques being payment of printing 90 30 (3) Club premises at cost 29000 – (4) Depreciation on club premises 18800 – (5) Car at cost 12190 – (6) Depreciation on car 10290 – (7) Value of bar stock 710 870 (8) Amount due for bar purchases 590 430

(9) Cash overspent represents amount of honorarium to the secretary not drawn due to shortage of funds. But the total salary payable to him for the year was already included in Rs. 4,800.
(10) Depreciation is to be provided @ 5% p.a. on the written down value of club premises and @ 15% p.a. on car for whole of the year.
You are required to adjust bank balance according to cash book and prepare income and expenditure account of the club and balance sheet as on 31st Dec., 2021.

## The solution of Question 39 Chapter 1 – Unimax Class 12 Part 1:

Income and Expenditure account of Bhartiya Gymkhana Club
For the year ending 31st Dec, 2012

 Expenditure Amount Income Amount To Honorarium 4800 By Subscription 10490 To Rates & Taxes 1260 By Receipts from fetes 2400 To Printing & Stationery 410 By proceeds of drama 4270 To Drama Expenses 1530 By Bank interest 230 To Ground man wages 840 By Bar takings 7450 To expenses on fates 2390 By profit on the sale of old car 1100 To Repairs 320 To Bar Expneses (2) 5450 To Depreciation : On club house 510 On Car 2340 2850 To surplus (excess of income over expenditure) 6090 25940 25940

Balance Sheet of Bhartiya Gymkhana As on 31st Dec, 2012

 Liabilities Amount Assets Amount Outstanding Honorarium 20 O/s Subscription 980 Outstanding Expenses for Bar purchases 430 Bar Stock 870 Capital Fund 21710 Car 13260 Add Surplus 6090 27800 Club House premises 9690 Bank 3480 Less Unpresented cheque for stationery on 31-12-12 30 3450 28250 28250

https://tutorstips.com/not-for-profit-organisations/

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)