Question 4 Chapter 1 of +2-A
Table of Contents
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 | ||
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
