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Question 41 Chapter 1 – Unimax Class 12 Part 1 – 2021

Question 41 Chapter 1 - Unimax Class 12 Part 1 - 2021
Question 41 Chapter 1 - Unimax Class 12 Part 1 - 2021

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Question 34 Chapter 1 – Unimax Class 12 Part 1

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41. The following is the Receipts and Payments A/c of Khana Club for the year ended 31st Dec., 2021 :

ReceiptsAmountPaymentsAmount
To Balance b/d300By Rent5200
To Entrance fees550By Stationery3068
To Subscription 2020200By Wages5330
To Subscription 202116900By Billiard Table3900
To Subscription 2022300By Repairs806
To Lockers Rent500By Interest1500
To Special Subscription for dinner party3450  
  By Balance c/d2396
 22,200 22,200

Additional Information :

(1) Subscription unpaid for the year 2021, Rs. 468.
(2) Stationery Rs. 312 related to 2020 and Rs. 364 on account is still owing.
(3) Locker’s rent include Rs 60 for 2020 and Rs. 90 is still owing. Rent Rs. 1300 relates to 2020 and Rs. 1300 is still due.
(4) Building on 31 Dec. 2020 was Rs. 50,000.
Prepare Income & Expenditure Account of Khana Club for the year ending 31st December 2021.

The solution of Question 41 Chapter 1 – Unimax Class 12 Part 1: 

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Income and Expenditure A/c of Gymkhana Club
For the year ended 31st Dec., 2009

Liabilities AmountAssets Amount
To Rent5200 By Entrance Fees 500
+ O/s end1300 By Sub.16900 
– O/s Beg.13005200+ O/s46817,368
To Stationery. 3120   
(3068 + 364 – 312) 5330By Lockers Rent 530
To Wages 806(500 – 60 + 90)  
To Repair 806   
To Interest 1500   
To Surplus 2492   
  18,448  18,448

Balance Sheet As on 31st March, 2009

Liabilities AmountAssetsAmount
Capital Fund48948 Billiard table3900
Add Surplus249251440Cash in hand2396
Adv. Subscription 300Sub. O/S468
O/s Rent 1300O/S Lockers Rent90
O/s Stationery 364Building50000
Special Subscription for dinner party 3450  
  56,854 56,854

Balance Sheet As on 31st Dec. 2010

LiabilitiesAmountAssetsAmount
O/S Rent1300Cash300
O/S Stationery312O/S Sub.200
Capital Fund (B/F)48948O/S Locker Rent60
  Building50,000
 50,560 50,560

Not-for-Profit Organisations – Meaning and Overview

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

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