Question no 8 Chapter 1 V K Publication class 12
8. The following is the summary of cash transactions of the Gulmarg Club for the year ended 31st March, 2018:
| Particulars | ₹ | Particulars | ₹ |
| Opening Balance | 1,276 | Rent and Rates | 672 |
| Entrance fees | 1,020 | Wages | 980 |
| Subscriptions | 6,400 | Lighting Charges | 288 |
| Donations | 660 | Lecturer’s Fees | 1,740 |
| Life Membership fees | 1,000 | Books | 852 |
| Interests on Fixed deposit | 56 | Office expenses | 1,800 |
| Profit on entertainment | 168 | Deposited on 6% Fixed Deposit on 1st Oct., 2017 | 3,200 |
| Cash at Bank | 968 | ||
| Cash in Hand | 80 | ||
| 10,580 | 10,580 |
You are required to prepare Income and Expenditure Account for the year ended 31st March, 2018.
The Solution of Question No 8 Chapter No 01 – V K Publications Class 12
| Gulmarg Club Income and Expenditure Account For the year ended 3 1st March, 2018 |
|||||
| Expenditures | Amount | incomes | Amount | ||
| To Rent and Rates | 672 | By Entrance fees | 1,020 | ||
| To Wages | 980 | By Subscriptions | 6,400 | ||
| To Lighting Charges | 288 | By Donations | 660 | ||
| To Lecturer’s fees | 1,740 | By Interest on Fixed Deposit | 56 | ||
| To Office Expenses | 1,800 | Add: Accrued Interest | 40 | 96 | |
| To Surplus, i.e., Excess of Income over Expenditure | 2,864 | By Profit on Entertainment | 168 | ||
| 8,344 | 8,344 | ||||
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Also, Check out the solved question of all Chapters: –
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Advanced Accountancy – Unimax Class 11 – 2021 – Solution.
Part-I
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
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. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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