Question 1

Question 1 Chapter 1 - Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 1 Chapter 1 - Class 12 Part 1 Unimax

1. Find out the income from the subscription for the year:

(a)Subscriptions received during the year5200(b)Subscriptions outstanding at the end2100(c)Subscriptions outstanding at the beginning of the year600(d)Subscriptions received in advance at the end of the year700(e)Subscriptions received in advance at the beginning of the year400

The solution to Question 1 Chapter 1 - Class 12 Part 1 Unimax:

End of Solution

Question 2

Question 2 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 2 Chapter 1 -  Class 12 Part 1 Unimax

2. On the receipt side of the "Receipts and payment"Account of Samsung Club for the year ending 31st December 2021 subscription appeared at a figure of Rs. 24,800. Further information is that on 31st December 2020 subscription due but not received amounted to Rs. 2,400 whereas the subscription received was Rs.3,200, and the subscription received in advance was Rs. 1,400 What amount should be posted to the Income and Expenditure Account as a subs

Question 3

Question 3 Chapter 1 - Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 3 Chapter 1 -  Class 12 Part 1 Unimax

3. Calculate the account of subscriptions received during the year ended 31st March 2021 from the following information:

Income from subscriptions for the current year Rs. 16,500, the other relevant information is:

(a)Subscriptions outstanding on 31st March 20201050(b)Subscriptions received in advance on 31st March 2020860(c)Subscriptions outstanding on 31st March 20211040(d)Subscriptions received in advance on 31st March 2021550

The so

Question 4

Question 4 Chapter 1 - Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 4 Chapter 1 -  Class 12 Part 1 Unimax

4. There are 1,125 members in an institution, each paying an annual subscription of Rs. 10 each. Subscription received in advance at the beginning and at the end of the year Rs. 3,250 and Rs. 3,500 respectively. Subscription unpaid at the beginning of the year Rs. 1,750. Subscription received during the year Rs. 10,000.Calculate Subscription unpaid at the end of the year.

The solution to Question 4 Chapter 1 -  Class 12 Part 1 Unimax:

Question 5

Question 5 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 5 Chapter 1 -  Class 12 Part 1 Unimax

5. Find out the amount of subscription to be posted to the Income and Expenditure account of Lions Club for the Accounting year ending Dec. 2021 from the following information:Subscription received for 2020- Rs. 480; 2021- Rs. 25,320 and 2022- Rs. 960.

There are 1,800 active members of the club and each has to subscribe to Rs. 15 annually. Rs. 540 were in arrears for 2020 at the beginning of the current year 2021.

The solution to Question

Question 6

Question 6 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 6 Chapter 1 - Class 12 Part 1 Unimax

6. What amount of ‘Stationery’ be posted in the Income and Expenditure A/c ?

Stock of Stationery on Jan. 1, 2021300Creditors for stationery on Jan. 1, 2021200Advance paid for stationery carried forward from 202020Stock of Stationery on Dec. 31, 202150Advance paid for stationery on Dec. 31, 202130Amount paid for stationery during 20211,080Creditors for stationery on Dec. 31, 2021130

The solution of Question 6 Chapter 1 -  Class 12 Part 1 Uni

Question 7

Question 7 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 7 Chapter 1 -  Class 12 Part 1 Unimax

7. Calculate the amount to be posted to the Income and Expenditure Account for the year ending 31.12.2021 in respect of ‘Stationery’.

Stock of Stationery on Jan. 1, 2021300Creditors for stationery on Jan. 1, 2021200Advance paid for stationery carried forward from 202080Amount paid for stationery during 20212,050Stock of Stationery on Dec. 31, 2021 40Advance paid for stationery on 31.12.202125

The solution of Question 7 Chapter 1 -  Cl

Question 8

Question 8 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 8 Chapter 1 -  Class 12 Part 1 Unimax

8. From the following information calculate the amount of subscriptions to be credited to the Income & Expenditure Account for the year 2020-21.

Subscription received during the year3,60,000Subscription outstanding on 31-03-202052,000Subscription outstanding on 31-03-202132,000Subscription received in Advance on 31-03-202030,000Subscription received in Advance on 31-03-202120,000

Subscription of ₹ 4,000 are still in arrears for the yea

Question 9

Question 9 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 9 Chapter 1 -  Class 12 Part 1 Unimax

9. Find out income from subscriptions during the year ending 2021 :

Subscriptions received during the year12000Subscription outstanding at the beginning of the year2000Subscription received in advance for the next year 2022900Subscription received in advance during the 2020 year700Subscription outstanding at the end of the year2,800

The solution to Question 9 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 10

Question 10 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 10 Chapter 1 -  Class 12 Part 1 Unimax

10. Find out income from subscriptions during the year :

Received during the year7500Outstanding at the beginning of the year1000Received in advance for the next year 500Outstanding at the end of the year1500Received in advance in the previous year700

The solution to Question 10 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 11

Question 11 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 11 Chapter 1 - Class 12 Part 1 Unimax 11. What amount of ‘medicines’ be posted in the Income and Expenditure A/c?

The stock of medicines on 1.1.2021600Creditors for medicines on 1.1.2021400The stock of medicines on 31.12.2021 100Amount paid for medicines during 20212160Advance paid for medicines on 31.12.202160

The solution to Question 11 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 12

Question 12 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 12 Chapter 1 -  Class 12 Part 1 Unimax12. What amount will be posted to the Income and Expenditure account as regards stationery?

Stock of stationery in hand on 1.1.2021300Payment made for stationery during the year1080Stock of stationery on 31st December 202150Creditor for stationery outstanding on 1.1.2021200

The solution to Question 12 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 13

Question 13 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 13 Chapter 1 -  Class 12 Part 1 Unimax

13. The following figures (all in Rs.) relate to a non-trading concern :

1st January, 2021 stock of medicines50001st January, 2021 outstanding creditors for medicines3000Amount paid for medicines during the year15000Value of medicines spoiled during the year400Stock of medicines on 31st December, 20213500

The solution of Question 13 Chapter 1 -  Class 12 Part 1 Unimax:

Amount to be debited to income and Expenditure account for the year

Question 14

Question 14 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 14 Chapter 1 -  Class 12 Part 1 Unimax14. What amount of subscriptions will be shown as income for the year 2021 :

Subscription received for 2020600202114,0002022800

The solution of Question 14 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 15

Question 15 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 15 Chapter 1 -  Class 12 Part 1 Unimax

15. Subscription received during the year ending 31st Dec. 2021- Rs. 10,500. This amount includes Rs. 600 pertaining to the year 2022 and Rs. 500 pertaining to the year 2020. Subscriptions outstanding on 31st Dec. 2021 Rs. 1,850 and on 1st Jan. 2021- Rs. 650.

What amount will be shown on the Asset side of the balance sheet as on 31-12-2021?

The solution of Question 15 Chapter 1 -  Class 12 Part 1 Unimax:

End of Solution

Question 16

Question 16 Chapter 1 - Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 16 Chapter 1 - Class 12 Part 1 Unimax

16. How will you treat the following information while preparing Income and Expenditure A/c of Dashmesh Sports Club.

Tournament Fund (Opening)14,000Donations for tournament fund2,400Expenses for tournament3,200

The solution of Question 16 Chapter 1 - Class 12 Part 1 Unimax

Balance Sheet Of Dashmesh Sport Club

End of Solution

Question 17

Question 17 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 17 Chapter 1 -  Class 12 Part 1 Unimax

17. What amount of depreciation will be charged on Sports Equipments.

Purchase of Sport Equipments ₹ 1,500. Sale of Sports Equipments ₹ 2,000 during the year.

The solution of Question 17 Chapter 1 -  Class 12 Part 1 Unimax:

Sports Equipment A/c

End of Solution

Question 18

Question 19 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 19 Chapter 1 -  Class 12 Part 1 - 2021 Unimax

19. Show the following information in the Balance Sheet of a Sports Club for the year ended 31st Dec. 2021.

ParticularsDr. BalanceCr. BalanceSports Fund-  2,000Sports Fund Investments2,000-  Interest on Sports Fund Investments-  200Sports Expenses420-  Sports Fee Collected 80

The solution of Question 19 Chapter 1 -  Class 12 Part 1 Unimax:

Balance Sheet of Sports Club as on 31st Dec.

Question 19

Question 20 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 20 Chapter 1 -  Class 12 Part 1 Unimax

20. Calculate the amount of depreciation to be charged on surgical equipment during the year 2012. The value of surgical equipment on 1st Jan. 2021 was Rs. 1,50,000 and on 31st Dec. 2021 was Rs. 90,000. During the year the value of surgical equipment sold was Rs. 50,000.

The solution to Question 20 Chapter 1 -  Class 12 Part 1 Unimax:

Surgical Equipment A/c

End of Solution

Question 20

Question 21 Chapter 1 -  Class 12 Part 1 Unimax

Sarbjit Singh · Accepted Answer

Question 21 Chapter 1 -  Class 12 Part 1 Unimax

21. The value of furniture in the beginning ₹ 40,000 and at the end Rs. 45,000. During the year furniture sold for Rs. 10,000 and total depreciation charged during the year ₹ 5,000. Calculate the amount of furniture purchased during the year.

The solution of Question 21 Chapter 1 -  Class 12 Part 1 Unimax:

Furniture A/c

End of Solution

(a)Subscriptions received during the year	5200
(b)Subscriptions outstanding at the end	2100
(c)Subscriptions outstanding at the beginning of the year	600
(d)Subscriptions received in advance at the end of the year	700
(e)Subscriptions received in advance at the beginning of the year	400

Unimax Accountancy Class 12 Part 1 - 2023 Solutions Chapter 1 - Accounts of Non-Profit Organisations - Unimax

Quick Chapter Summary & Cheat Sheet

💡 Double Entry Accounting Principles

Topics & Questions Solved:

Question 1 Chapter 1 - Class 12 Part 1 Unimax

The solution to Question 1 Chapter 1 - Class 12 Part 1 Unimax:

Question 2 Chapter 1 - Class 12 Part 1 Unimax

Question 3 Chapter 1 - Class 12 Part 1 Unimax

Question 4 Chapter 1 - Class 12 Part 1 Unimax

Question 5 Chapter 1 - Class 12 Part 1 Unimax

Question 6 Chapter 1 - Class 12 Part 1 Unimax

Question 7 Chapter 1 - Class 12 Part 1 Unimax

Question 8 Chapter 1 - Class 12 Part 1 Unimax

Question 9 Chapter 1 - Class 12 Part 1 Unimax

Question 10 Chapter 1 - Class 12 Part 1 Unimax

Question 11 Chapter 1 - Class 12 Part 1 Unimax

Question 12 Chapter 1 - Class 12 Part 1 Unimax

Question 13 Chapter 1 - Class 12 Part 1 Unimax

Question 14 Chapter 1 - Class 12 Part 1 Unimax

Question 15 Chapter 1 - Class 12 Part 1 Unimax

Question 16 Chapter 1 - Class 12 Part 1 Unimax

Question 17 Chapter 1 - Class 12 Part 1 Unimax

Question 19 Chapter 1 - Class 12 Part 1 Unimax

Question 20 Chapter 1 - Class 12 Part 1 Unimax

Question 21 Chapter 1 - Class 12 Part 1 Unimax

Question 22 Chapter 1 - Class 12 Part 1 Unimax

Question 23 Chapter 1 - Class 12 Part 1 Unimax

Question 24 Chapter 1 - Class 12 Part 1 Unimax

Question 25 Chapter 1 - Class 12 Part 1 Unimax

Question 26 Chapter 1 - Class 12 Part 1 Unimax

Question 27 Chapter 1 - Class 12 Part 1 Unimax

Question 28 Chapter 1 - Class 12 Part 1 Unimax

Question 29 Chapter 1 - Class 12 Part 1 Unimax

Question 32 Chapter 1 - Class 12 Part 1 Unimax

Question 33 Chapter 1 - Class 12 Part 1 Unimax

Question 34 Chapter 1 - Class 12 Part 1 Unimax

Question 35 Chapter 1 - Class 12 Part 1 Unimax

Question 36 Chapter 1 - Class 12 Part 1 Unimax

Question 37 Chapter 1 - Class 12 Part 1 Unimax

Question 38 Chapter 1 - Class 12 Part 1 Unimax

Question 39 Chapter 1 - Class 12 Part 1 Unimax

Question 40 Chapter 1 - Class 12 Part 1 Unimax

Question 41 Chapter 1 - Class 12 Part 1 Unimax

Sarbjit SinghB.Com and M.Com