Question no 12 Chapter 1 V K Publication class 12

Posted by By Kuljeet Singh 6 Min Read April 10, 2023
Question no 12 Chapter 1 V K Publication class 12
Question no 12 Chapter 1 V K Publication class 12

Question no 12 Chapter 1 V K Publication class 12

12. From the following Receipts and Payments Account of the Support Old Age Society for the year ended 31st March, 2018, prepare ‘Income and Expenditure Account:

Receipts ₹ Payments ₹
To Balance b/d 2,010 By Salaries to Nurses 656
To Subscriptions 4,115 By Board laundry and domestic help 380
To Rent received from Society Hall 217 By Rent, rates and taxes 200
To Municipal grant 1,000 By Cost of beds purchased 2,000
To Donation for Building Fund 1,560 By Expense of vehicles 840
To Interest 38 By Drugs and incidental expenses  670
    By Balance c/d 4,247
  8,993   8,993

A donation of ₹ 100 received for building fund was wrongly included in subscription account. A bill of medicines purchased during the year ₹ 128 was outstanding.

The Solution of Question No 12 Chapter No 01 – V K Publications Class 12

Support Old Age Society Income and Expenditure Account For the year ended 3 1st March, 2018
Expenditures Amount incomes Amount
To Salaries to Nurses   656 By Subscriptions 4,115  
To Rent, sales and taxes   200 Less: Donations wrongly included 100 4,015
To Expenses of Vehicles    840 By Rent received from Society hall   270
To Drug and incidental expenses   670 By Municipal grants   1,000
To Board Laundry and Domestic help   380 By interest   38
To Outstanding bill for Medicines   128      
To Surplus, i.e., Excess of Income over Expenditure   2,449      
           
    5,323     5,323

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Not-for-Profit Organisations – Meaning and Overview

What is Receipt and Payment account – format in Excel & PDF

What is Incomes and Expenditures Account – format in Excel & PDF

What is subscription in NPO – Treatments and Examples:

Also, Check out the solved question of all Chapters: –

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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Students may choose only one part from the Part II and Part III

Part-II

  • Chapter No. 15 – Financial Statements (Without Adjustments)
  • Chapter No. 16 – Financial Statements (With Adjustments)
  • Chapter No. 17 – Accounts from Incomplete Records –  Single Entry System

Part-III

  • Chapter No. 18 – Introduction to Computers and Accounting information System
  • Chapter No. 19 – Computerised Accounting
  • Chapter No. 20 – Accounting Software: Tally 
  • Chapter No. 21 – Data Base System
  • Chapter No. 22 – Concept of Entity and Relationship 

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

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Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

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Chapter No. 18 – Financial Statements – (With Adjustments)

Check out V.  K. Publication Class 12 @ Oficial Website of V. K. Publication

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