Question 5 Chapter 1 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 5 Chapter 1 of +2-A

Question 5 Chapter 1 of +2-A

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

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)

  • 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)

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

 

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2 Book 1 min - Question 5 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