Question 5 Chapter 1 of +2-A
Table of Contents
5. From the following particulars of Evergreen Club, prepare Receipts and Payments. Account for the year ended 31st March 2019:
| Receipts |
Amount | Payments |
Amount |
| Cash in Hand on 1st April 2018 | 50,000 | Newspapers and Magazines | 87,000 |
| Cash at Bank on 1st April 2018 | 3,40,000 | Sale of Old Newspapers | 12,000 |
| Subscriptions Received | 15,70,000 | Books Purchased | 3,40,000 |
| Donation Received | 2,80,000 | Sports Materials Purchased | 4,70,000 |
| Investment Purchased | 5,00,000 | Interest on Investment Received | 50,000 |
| Rent Paid | 50,000 | Honorarium to Coaches | 1,50,000 |
| General Expenses | 2,30,000 | Cash in Hand on 31st March 2019 | 30,000 |
| Postage and Stationery | 25,000 | Cash in Hand on 31st March 2019 | 30,000 |
The solution of Question 5 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 Investment A/c | 5,00,000 | |
| – Cash in Hand A/c | 50,000 | By Rent A/c | 50,000 |
| – Cash at Bank | 3,40,000 | By General Expenses A/c | 2,30,000 |
| To Subscription A/c | 15,70,000 | By Postage and Stationery A/c | 25,000 |
| To General Donations A/c | 2,80,000 | By Newspapers and Magazines A/c | 87,000 |
| To Scrap A/c | 12,000 | By Books A/c | 3,40,000 |
| To Interest on Investments A/c | 50,000 | By Sports Materials A/c | 3,40,000 |
| By Honorarium to Coaches A/c | 1,50,000 | ||
| By Balance C/d | |||
| -Cash in Hand A/c | 30,000 | ||
| -Cash in Bank A/c | 4,20,000 | ||
| 23,02,000 | 23,02,000 | ||
Not-for-Profit Organisations – Meaning and Overview
Thanks, Please Like and share with your friends
Comment if you have any questions.
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
