Question 4 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 4 Chapter 1 of +2-A

Question 4 Chapter 1 of +2-A

4. From the following information, prepare Receipts and Payments Account of Long town Sports Club for the year ending 31st March 2019

Receipts
Amount Payments
Amount
Opening Balance:   Charity Given 10,000
Cash in Hand 50,000 Match Expenses 30,000
Cash at Bank 60,000 Salaries 63,600
Subscription Received:   Honorarium 4,000
2017-18 4,000 12% Investment Purchased 60,000
2018-19 1,40,000 Entrance Fees 4,000
2019-20 8,000 Interest on 12% Investments 6,000
Furniture Purchased 70,000 Closing Balance:  
General Donations 20,000 Cash in Hand 24,000
Donations for Tournament 40,000 Cash in Bank ?

The solution of Question 4 Chapter 1 of +2-A

: – 

In the Books of Evergreen Club
Receipts and Payment A/c
Particulars
Amount Particulars
Amount
To Balance B/d   By Furniture Purchased A/c 70,000
– Cash in Hand A/c 50,000 By Charity Given A/c 10,000
– Cash at Bank 60,000 By Match Expenses A/c 30,000
To Subscription A/c   By Salaries A/c 63,600
2017-18 4,000 By Honorarium A/c 4,000
2018-19 1,40,000 By 12% Investment A/c 60,000
2019-20 8,000 By Balance C/d  
To General Donations A/c 20,000 -Cash in Hand 24,000
To Donations for Tournament A/c 40,000 -Cash in Bank 70,400
To Entrance Fees A/c 4,000    
To Interest on Investments A/c 6,000    
  2,78,660   2,78,660

In the Books of Evergreen Club

 

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)

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

2 Book 1 min - Question 4 Chapter 1 of +2-A - T.S. Grewal 12 Class Part - A Vol. 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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