Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Get complete step-by-step solutions for T.S. Grewal ISC Class 11 Accountancy - Chapter 23 - Non-Trading Organisation. Study double-entry system details, practice timed problems, and verify answers directly.
From the following particulars of Mumbai Recreation Club, prepare the Receipts and Payments Account for the year ended 31st March, 2023:
| Particulars | ₹ | Particulars | ₹ |
|---|---|---|---|
| Cash in Hand on 1st April, 2022 | 500 | Newspapers and Magazines | 870 |
| Cash at Bank on 1st April, 2022 | 3,400 | Sale of Old Newspapers | 120 |
| Subscriptions Received | 15,700 | Books Purchased | 3,400 |
| Donations Received | 2,800 | Sports Materials Purchased | 4,700 |
| Investments Purchased | 5,000 | Interest on Investments Received | 500 |
| Rent Paid | 500 | Honorarium to Coaches | 1,500 |
| General Expenses | 2,300 | Cash in Hand on 31st March, 2023 | 300 |
| Postage and Stationery | 250 | Cash at Bank on 31st March, 2023 | ? |
Note: The closing Cash at Bank is not given directly; it is the balancing figure that makes the two sides of the account equal.
Receipts and Payments Account for the year ended 31st March, 2023
| Dr. | Cr. | ||
|---|---|---|---|
| Particulars | ₹ | Particulars | ₹ |
| To Balance b/d (Cash ₹ 500 + Bank ₹ 3,400) | 3,900 | By Investments | 5,000 |
| To Subscriptions | 15,700 | By Rent Paid | 500 |
| To Donations | 2,800 | By General Expenses | 2,300 |
| To Sale of Old Newspapers | 120 | By Postage and Stationery | 250 |
| To Interest on Investments | 500 | By Newspapers and Magazines | 870 |
| By Books | 3,400 | ||
| By Sports Materials | 4,700 | ||
| By Honorarium to Coaches | 1,500 | ||
| By Balance c/d (Cash ₹ 300 + Bank ₹ 4,200) | 4,500 | ||
| Total | 23,020 | Total | 23,020 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.