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

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

Question 34 Chapter 1 – Unimax Class 12 Part 1

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

Receipts Amount Payments Amount
To Balance b/d 300 By Rent 5200
To Entrance fees 550 By Stationery 3068
To Subscription 2020 200 By Wages 5330
To Subscription 2021 16900 By Billiard Table 3900
To Subscription 2022 300 By Repairs 806
To Lockers Rent 500 By Interest 1500
To Special Subscription for dinner party 3450    
    By Balance c/d 2396
  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: 

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

Liabilities   Amount Assets   Amount
To Rent 5200   By Entrance Fees   500
+ O/s end 1300   By Sub. 16900  
– O/s Beg. 1300 5200 + O/s 468 17,368
To Stationery.   3120      
(3068 + 364 – 312)   5330 By 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   Amount Assets Amount
Capital Fund 48948   Billiard table 3900
Add Surplus 2492 51440 Cash in hand 2396
Adv. Subscription   300 Sub. O/S 468
O/s Rent   1300 O/S Lockers Rent 90
O/s Stationery   364 Building 50000
Special Subscription for dinner party   3450    
    56,854   56,854

Balance Sheet As on 31st Dec. 2010

Liabilities Amount Assets Amount
O/S Rent 1300 Cash 300
O/S Stationery 312 O/S Sub. 200
Capital Fund (B/F) 48948 O/S Locker Rent 60
    Building 50,000
  50,560   50,560

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)

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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