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

Free Accounting book Solution - Class 11 and Class 12

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)

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)

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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